CentroMotion lifts term loan to $475 million, revises OID to 97

By Sara Rosenberg

New York, July 25 – CentroMotion (LSF12 Badger Bidco LLC) upsized its first-lien term loan B due 2030 to $475 million from $450 million and tightened the original issue discount to 97 from talk in the range of 95.5 to 96.5, according to a market source.

The term loan is still priced at SOFR plus 600 basis points with a 0% floor and has 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

Recommitments were scheduled to be due at 10 a.m. ET on Tuesday, the source added.

Proceeds will be used to help fund the buyout of the company by Lone Star Funds from One Rock Capital Partners LLC, to refinance an existing $537 million term loan B due August 2028, and for general corporate purposes, including payment of fees and expenses.

Due to the upsizing of the term loan, the equity portion of the buyout financing is being reduced by $10 million and the amount available for general corporate purposes is being increased.

CentroMotion is a Waukesha, Wis.-based designer and manufacturer of highly engineered systems and solutions for industrial and transportation applications.

© 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.