Resonetics talks $130 million incremental loan at Libor plus 400 bps with 99.5 OID

By Paul A. Harris

Portland, Ore., Oct. 25 – Resonetics LLC planned to kick off a $130 million fungible, incremental covenant-lite first-lien term loan due April 2028 (B2/B-) on a Monday lender call, according to a market source.

The deal features a 400 basis points spread to Libor atop a 0.75% Libor floor, the same as the existing loan.

There is an original issue discount of 99.5.

Commitments are due at 5 p.m. ET on Friday.

Credit Suisse, Goldman Sachs, BMO and Antares are the arrangers.

The Nashua, N.H.-based provider of micro-manufacturing services for the life sciences sector plans to use the proceeds for acquisition financing.

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