Filtration ups term loan to $996 million, firms at Libor plus 350 bps

By Sara Rosenberg

New York, Oct. 19 – Filtration Group upsized its seven-year incremental first-lien term loan to $996 million from $600 million and set pricing at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.

In addition, the original issue discount on the term loan was tightened to 99.75 from 99.5, the source said.

The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

Goldman Sachs Bank USA, JPMorgan Chase Bank and BMO Capital Markets are the arrangers on the deal.

Recommitments were scheduled to be due at 2 p.m. ET on Tuesday, the source added.

Proceeds will be used with cash on hand to finance the acquisition of Columbus Industries and, due to the upsizing, to refinance an existing term loan due 2025.

Filtration Group is a provider of filtration solutions, serving a diverse portfolio of global end markets. Columbus Industries is a provider of high-end consumable air filters for critical indoor air quality applications.

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