Radio Systems wraps $297.8 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, April 26 – Radio Systems Corp. wrapped syndication of a $297.8 million term loan B that is priced at Libor plus 275 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Fifth Third Bank is the lead on the deal that allocated on Tuesday.

Proceeds are being used to reprice an existing term loan B down from Libor plus 325 bps with a 1% Libor floor.

Radio Systems is a Knoxville, Tenn.-based manufacturer of pet products.

© 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.