RelaDyne launches $350 million add-on term loan B-2 at 96.5-97 OID

By Sara Rosenberg

New York, March 14 – RelaDyne Inc. launched on Tuesday its fungible $350 million add-on first-lien term loan B-2 due December 2028 with original issue discount talk of 96.5 to 97, according to a market source.

Pricing on the add-on term loan B-2 is SOFR plus 500 basis points with a 0.5% floor and no credit spread adjustment, in line with pricing on the company’s existing $250 million term loan B-2 due December 2028.

The add-on term loan B-2 has 101 soft call protection for six months, the source said.

RBC Capital Markets, BMO Capital Markets, KeyBanc Capital Markets, Macquarie Capital (USA) Inc., U.S. Bank and Fifth Third are the joint lead arrangers on the deal.

Commitments are due at noon ET on March 24, the source added.

Proceeds will be used to fund the acquisition of Sun Coast Resources, a specialty distribution and logistics provider primarily focused on distributing diesel and lubricants and providing logistics services to support a diverse customer base across the Texas/Gulf Coast region.

RelaDyne is a Cincinnati-based provider of lubricant and fuel sales & distribution and equipment reliability services to the industrial, commercial and automotive industries.

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