Acuren lifts term B to $445 million, flexes to Libor plus 425 bps

By Sara Rosenberg

New York, Jan. 16 – Acuren (Rockwood Service Corp.) upsized its seven-year first-lien term loan B to $445 million from $430 million and trimmed pricing to Libor plus 425 basis points from talk in the range of Libor plus 450 bps to 475 bps, according to a market source.

Also, the original issue discount on the term loan was revised to 99.5 from 99, the source said.

The loan still has a 0% Libor floor and 101 soft call protection for six months.

BofA Securities Inc., BMO Capital Markets and Antares Capital are the leads on the deal.

Recommitments were scheduled to be due at noon ET on Thursday, the source added.

Proceeds will be used to help fund the buyout of the company by American Securities.

The amount of equity being used for the transaction is being reduced due to the term loan upsizing.

Acuren is a provider of testing services to energy and industrial markets.

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