Welbilt sets $815 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Aug. 18 – Welbilt Inc. wrapped syndication of an $815 million term loan B at pricing of Libor plus 275 basis points with a 1% Libor floor and a par issue price, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds are being used to reprice an existing term loan B down from Libor plus 300 bps with a 1% Libor floor.

Welbilt is a New Port Richey, Fla.-based commercial foodservice equipment company.

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