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Remy International seeks term B repricing at Libor plus 300-325 bps
By Sara Rosenberg
New York, Feb. 19 - Remy International Inc. launched a repricing of its term loan B with talk of Libor plus 300 basis points to 325 bps with a 1.25% Libor floor and an original issue discount of 99½ to 993/4, according to a market source.
The repriced loan has 101 soft call protection for six months, the source said.
With this transaction, the company is taking term loan B pricing down from Libor plus 450 bps with a 1.75% Libor floor.
BofA Merrill Lynch is the lead bank on the deal.
Remy is a Pendleton, Ind.-based manufacturer, remanufacturer and distributor of starters and alternators for light vehicle and commercial vehicle applications, locomotive products and hybrid electric motors.
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