Allison’s new $600 million revolver prices at Libor plus 125 bps

By Sarah Lizee

Olympia, Wash., March 29 – Allison Transmission Holdings, Inc. detailed its new $600 million revolving credit facility in an 8-K filed Friday with the Securities and Exchange Commission.

The revolver matures September 2024, and borrowings bear interest at Libor plus 125 basis points. The margin over Libor will vary from 125 bps to 175 bps based on first-lien net leverage.

The commitment fee also varies based on first-lien net leverage, from 25 bps to 37.5 bps, with the initial fee set at 25 bps.

As previously reported, on Tuesday the company firmed pricing on a $648 million seven-year senior secured amended and extended covenant-lite term loan B at Libor plus 200 bps, the low end of the Libor plus 200 bps to 225 bps talk. The new term loan closed alongside the revolver on Friday.

Allison Transmission is an Indianapolis-based automatic transmission company and supplier of hybrid-propulsion systems.

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