Tamko launches $600 million term loan B at Libor plus 350-375 bps

By Sara Rosenberg

New York, April 23 – Tamko Building Products Inc. launched on Tuesday its $600 million seven-year term loan B (B2/BB-) with price talk of Libor plus 350 basis points to 375 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months.

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

Commitments are due at 5 p.m. ET on May 7, the source added.

Proceeds will be used to refinance existing debt and fund a redemption of equity interests.

Carlyle Global Partners is becoming a minority investor in the company.

Tamko is a Joplin, Mo.-based manufacturer of residential roofing products, decking and railing products, waterproofing, cements and coatings.

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