Standard Industries seeks to shift term loan benchmark to SOFR

By Paul A. Harris

Portland, Ore., Feb. 22 – Standard Industries Inc. seeks to amend $1.568 billion of term loan B debt due September 2028 to a spread of SOFR+CSA plus 250 basis points, according to a market source.

Presently the interest rate is Libor plus 250 bps.

Negative consents for the amendment are due at 5 p.m. ET on March 1.

Deutsche Bank is leading the amendment effort.

Standard Industries is a New York-based manufacturer of roofing 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.