Western Express withdraws $250 million term loan B from market

By Sara Rosenberg

New York, Nov. 29 – Western Express pulled its $250 million six-year term loan B (B2/B+) from the primary market, according to a market source.

The loan had been talked at Libor plus 575 basis points to 600 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for one year.

BMO Capital Markets was the bookrunner on the deal.

Proceeds would have been used to refinance existing debt.

Western Express is a Nashville, Tenn.-based diversified truckload carrier.

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