RelaDyne launches $649 million term loan-2 at SOFR plus 450 bps

By Sara Rosenberg

New York, March 18 – RelaDyne Inc. was scheduled to hold a lender call at 2 p.m. ET on Monday to launch a $649 million first-lien term loan B-2 due December 2028 that is talked at SOFR plus 450 basis points with a 0.5% floor and an original issue discount of 99.75, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Current corporate ratings are B2/B and are expected to remain unchanged.

RBC Capital Markets is the lead on the deal.

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

Proceeds will be used to reprice an existing $599 million term loan B-2 down from SOFR plus 500 bps, and the $50 million in additional fungible debt being raised will repay outstanding ABL revolving credit facility borrowings.

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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