Osmose Holdings lifts term loan to $255 million, trims pricing

By Sara Rosenberg

New York, April 30 - Osmose Holdings Inc. upsized its six-year first-lien term loan to $255 million from $240 million and reduced pricing to Libor plus 525 basis points from Libor plus 550 bps, according to a market source.

Furthermore, the original issue discount on the term loan was tightened to 99 from 98, while the 1.25% Libor floor was left unchanged, the source said.

The term loan includes 101 soft call protection for one year.

The company's $300 million credit facility (B1/B+), up from $265 million, also includes a $45 million five-year revolver that was upsized from $25 million, the source added.

Credit Suisse Securities (USA) LLC and Macquarie Capital are the lead banks on the deal.

Proceeds will be used to fund the acquisition of the company by Oaktree Capital Management.

Other funds will come from equity.

Osmose is a Buffalo, N.Y.-based provider of wood preservation technology as well as utility and railroad asset management.

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