Tunnel Hill Partners to launch $275 million term loan B on Monday

By Sara Rosenberg

New York, Sept. 13 – Tunnel Hill Partners LP is scheduled to hold a bank meeting at 11 a.m. ET in New York on Monday to launch a $275 million seven-year covenant-light term loan B, according to a market source.

Bank of America Merrill Lynch, SunTrust Robinson Humphrey Inc. and Fifth Third are the lead arrangers on the deal.

The term loan B has 101 soft call protection for six months, the source said.

Expected term loan ratings are B2/B.

Proceeds will be used to fund the acquisition of the company by Macquarie from American Infrastructure MLP Funds and other holders.

Tunnel Hill is a Jericho, N.Y.-based integrated waste-by-rail operator.

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