Technimark talks $219 million term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, April 8 - Technimark is talking its $219 million seven-year term loan B at Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 991/2, according to a market source.

The B loan has 101 soft call protection for six months and a total net leverage covenant, the source said.

The company's $249 million credit facility, which launched with a bank meeting on Monday, also includes a $30 million revolver.

Commitments are due on April 21, the source added.

GE Capital Markets is the lead on the deal.

Proceeds will be used to help finance the buyout of the company by the Pritzker Group.

Technimark is an Asheboro, N.C.-based injection molding company.

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