RailWorks talks $230 million term loan B at Libor plus 550 bps

By Sara Rosenberg

New York, Nov. 18 – RailWorks LLC launched on Wednesday its $230 million seven-year term loan B with price talk of Libor plus 550 basis points with a 1% 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 company’s $280 million of credit facilities (B1) also include a $50 million five-year revolver.

BMO Capital Markets, Citizens Bank and PNC Capital Markets are the leads on the deal.

Commitments are due at noon ET on Dec. 2, the source added.

Proceeds will be used to finance a small tuck-in acquisition, refinance existing debt and fund a dividend.

RailWorks, a Wind Point Partners portfolio company, is a New York-based provider of engineering and construction services for track and transit systems.

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