Filtration Group revises U.S. and euro loan sizes, updates pricing

By Sara Rosenberg

New York, May 19 – Filtration Group Corp. downsized its U.S. first-lien term loan due October 2028 to $1.129 billion from $1.227 billion and upsized its euro first-lien term loan due October 2028 to €500 million from €409 million, according to a market source.

Also, pricing on the U.S. term loan was increased to SOFR plus 425 basis points from talk in the range of SOFR plus 375 bps to 400 bps, and pricing on the euro term loan firmed at Euribor plus 425 bps, the low end of the Euribor plus 425 bps to 450 bps talk, the source said.

As before, the U.S. term loan has CSA of 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate and an original issue discount of 99, the euro term loan has a discount of 98, and both term loans (B3/B) have a 0.5% floor and 101 soft call protection for six months.

Goldman Sachs Bank USA and JPMorgan Chase Bank are the arrangers on the deal.

Recommitments were scheduled to be due at 12:30 p.m. ET on Friday, the source added.

Proceeds will be used to amend and extend an existing U.S. first-lien term loan due 2025 and an existing euro first-lien term loan due 2025.

Filtration Group is a provider of filtration solutions serving a diverse portfolio of global end markets.

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