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Hayward finalizes $125 million term loan at SOFR plus 325 bps
By Sara Rosenberg
New York, Dec. 9 – Hayward Industries Inc. set pricing on its non-fungible $125 million incremental senior secured term loan (B2/BB) due May 2028 at SOFR plus 325 basis points, the low end of the SOFR plus 325 bps to 350 bps talk, according to a market source.
As before, the incremental term loan has 10 bps CSA, a 0.5% floor, an original issue discount of 96 and 101 soft call protection for six months.
BofA Securities Inc. and Truist are the leads on the deal.
Proceeds will be used to repay borrowings under the company’s asset-based revolving credit facility and for general corporate purposes.
Hayward is a Berkeley Heights, N.J.-based manufacturer of residential and commercial pool and spa equipment as well as industrial flow control products.
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