Capstone talks $395 million term loan B at Libor plus 450-475 bps

By Sara Rosenberg

New York, Feb. 25 – Capstone Logistics Acquisition Inc. launched on Tuesday its $395 million seven-year first-lien term loan B (B3/B-) with price talk of Libor plus 450 basis points to 475 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Credit Suisse Securities (USA) LLC is the lead arranger on the deal.

Commitments are due at noon ET on March 6.

Proceeds will be used to refinance existing debt.

Capstone is a Peachtree Corners, Ga.-based third-party logistics company.

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