Filtration Group discloses talk on $1.65 billion equivalent term B

By Sara Rosenberg

New York, March 20 – Filtration Group Corp. released price talk on its $1,653,000,000 equivalent U.S. and euro seven-year senior secured first-lien term loan B (B2/B) in connection with its lender call on Tuesday, according to a market source.

Price talk on the U.S. tranche is Libor plus 325 basis points to 350 bps with a 0% Libor floor and an original issue discount of 99.5, and talk on the euro tranche is 25 bps wider than the U.S. piece at Euribor plus 350 bps to 375 bps with a 0% floor and a discount of 99.5, the source said.

Included in the term loans is 101 soft call protection for six months and amortization of 1% per annum.

The euro component of the term loan B will be sized at up to €250 million.

Goldman Sachs Bank USA and J.P. Morgan Securities LLC are the bookrunners on the deal. Co-managers include BMO Capital Markets and HSBC Securities (USA) Inc.

Commitments are due at noon ET on March 27, the source added.

Proceeds will be used to fund mergers and acquisitions and to refinance existing debt.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.