Zekelman launches $900 million term loan at Libor plus 225-250 bps

By Sara Rosenberg

New York, Jan. 13 – Zekelman Industries launched on Monday its $900 million first-lien term loan (Ba3/BB) due 2027 with price talk of Libor plus 225 basis points to 250 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Goldman Sachs Bank USA and BofA Securities Inc. are the lead banks on the deal.

Commitments are due at noon ET on Jan. 24, the source added.

Proceeds will be used to refinance existing debt.

Zekelman Industries is a Chicago-based manufacturer of industrial steel pipe and tubular products.

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