Flexitallic talks $200 million term loan B at Libor plus 600 bps

By Sara Rosenberg

New York, Oct. 3 – Flexitallic Group (FGA Acquisition Corp.) launched on Thursday its $200 million term loan B (B-) with price talk of Libor plus 600 basis points with a 0% Libor floor and an original issue discount of 98, according to a market source.

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

The loan will have a covenant.

Natixis and Bank of Ireland are the joint bookrunners on the deal.

Commitments are due on Oct. 17, the source added.

Proceeds will be used to refinance existing debt.

Flexitallic, a Bridgepoint portfolio company, is a Houston-based manufacturer and supplier of static sealing solutions, primarily selling gaskets across a diverse set of end markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.