Zekelman launches $900 million term loan B at SOFR plus 225 bps

By Sara Rosenberg

New York, March 6 – Zekelman Industries Inc. launched on Wednesday its $900 million term loan B due Jan. 24, 2031 with price talk of SOFR plus 225 basis points with a 0% floor and an original issue discount of 99.5 to 99.75, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

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

Commitments are due on March 20, the source added.

Proceeds will be used to amend, extend and modestly upsize the company’s existing senior secured term loan B.

Zekelman Industries is a Chicago-based steel and pipe producer.

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