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Flow Control launches $90 million incremental term loan at 94-95 OID
By Sara Rosenberg
New York, Nov. 29 – Flow Control Group (FCG Acquisitions Inc.) launched without a lender call on Tuesday morning a fungible $90 million incremental first-lien term loan due April 2028 that is talked with an original issue discount of 94 to 95, according to a market source.
Pricing on the incremental term loan is SOFR plus 475 basis points with a 0.5% floor.
KKR Capital Markets is the lead on the deal.
Commitments are due at noon ET on Wednesday, the source added.
Proceeds will be used to fund acquisitions under letters of intent.
The incremental term loan is fungible with the company’s existing $200 million incremental first-lien term loan due April 2028.
Flow Control is a Charlotte, N.C.-based distributor and technical adviser for mission critical flow control and industrial automation products and related services.
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