RelaDyne launches $540 million term loan at SOFR plus 450 bps

By Sara Rosenberg

New York, Jan. 13 – RelaDyne Inc. launched on Thursday its $540 million seven-year first-lien term loan with price talk of SOFR plus 450 basis points with a 0.5% floor and an original issue discount of 99, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

Commitments are due at noon ET on Jan. 27, the source added.

The company’s $855 million of credit facilities also include a $150 million ABL revolver and a $165 million eight-year second-lien term loan that has been privately placed.

RBC Capital Markets, BMO Capital Markets, KeyBanc Capital Markets, Macquarie Capital (USA) Inc. and Golub Capital are the arrangers on the deal.

Proceeds will be used to support the recently completed buyout of the company by American Industrial Partners from Audax Private Equity, and refinance an existing roughly $450 million first-lien term loan and a roughly $140 million second-lien term loan.

RelaDyne is a Cincinnati-based provider of lubricants and distributor of less-than-truckload fuel, diesel exhaust fluid, chemicals and other related products.

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