HDT Global downsizes term loan B by $25 million to $275 million

By Sara Rosenberg

New York, Dec. 9 - HDT Global reduced its six-year term loan B to $275 million from $300 million, according to a market source.

Price talk on the loan was left unchanged at Libor plus 475 basis points with a 1.5% Libor floor and an original issue discount of 99.

The company's now $325 million credit facility (B+), down from $350 million, also includes a $50 million revolver.

J.P. Morgan Securities LLC and Bank of America Merrill Lynch are the lead banks on the deal.

Proceeds will be used to refinance existing debt and to fund a dividend payment - the size of which was reduced as a result of the term loan B downsizing.

HDT Global is a Solon, Ohio-based manufacturer of deployable, expeditionary systems and high-performance aerial delivery systems for the U.S. Military, Allied Forces, Homeland Security and Emergency Management agencies.

© 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.