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Ennis-Flint launches $442 million term loan B at Libor plus 425 bps
By Sara Rosenberg
New York, June 1 – Ennis-Flint launched on Wednesday its $442 million seven-year senior secured first-lien term loan B with price talk of Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.
The term loan B has 101 soft call protection for six months and amortization of 1% per annum, the source said.
The company’s $517 million credit facility (B1/B-) also includes a $75 million revolver.
Goldman Sachs & Co., Antares Capital and Jefferies Finance LLC are the leads on the deal.
Commitments are due at 5 p.m. ET on June 8, the source added.
Proceeds will be used to help fund the buyout of the company by Olympus Partners.
Other funds for the transaction will come from a $172 million second-lien term loan (CCC) that was privately placed.
Ennis-Flint is a Thomasville, N.C.-based pavement marking company.
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