Reece Group launches $1.22 billion term loan B at Libor plus 175 bps

By Sara Rosenberg

New York, Nov. 18 – Reece Group held a lender call on Monday to launch a $1.22 billion term loan B that is talked at Libor plus 175 basis points with a 0% Libor floor and an original issue discount of 99.75 to 99.875, according to a market source.

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

Proceeds will be used to reprice an existing term loan B.

Reece is a Burwood, Australia-based provider of plumbing, HVAC and waterworks products.

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