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Wastequip talks $210 million term loan at Libor plus 475-500 bps
By Sara Rosenberg
New York, July 26 - Wastequip LLC is talking its $210 million six-year term loan (B3/B+) at Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.
The term loan, which launched with a bank meeting on Thursday, has 101 soft call protection for one year, the source said.
Goldman Sachs Bank USA is the lead on the deal.
Proceeds will be used to refinance existing debt and fund a dividend.
Wastequip is a Charlotte, N.C.-based manufacturer of waste handling equipment and recycling equipment.
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