FCI launches $300 million term loan B at Libor plus 450-475 bps

By Sara Rosenberg

New York, Dec. 5 - FCI launched on Thursday its $300 million six-year covenant-light term loan B with price talk of Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

Goldman Sachs Bank USA, Bank of America Merrill Lynch, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds will be used to fund a dividend.

FCI is a manufacturer of connectors for use in electronic, micro-connector, electrical and automotive applications.

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