Filtration Group to launch $115 million add-on first-lien loan Monday

By Sara Rosenberg

New York, May 8 – Filtration Group Corp. is scheduled to hold a call on Monday to launch a $115 million add-on first-lien term loan (B1), according to a market source.

Goldman Sachs Bank USA is the lead bank on the deal.

Proceeds will be used to pay down second-lien term loan borrowings.

In addition, the company will be seeking an amendment to its existing credit facility to allow for the paydown and to remove a leverage-based step-up in pricing on the first-lien term loan to Libor plus 350 bps with a 1% Libor floor from Libor plus 325 with a 1% Libor floor, the source said.

Filtration Group is a Chicago-based manufacturer and distributor of filtration products to end markets.

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