RelaDyne revises $649 million term loan B-2 OID to 99.875

By Sara Rosenberg

New York, March 21 – RelaDyne Inc. tightened the original issue discount on its $649 million first-lien term loan B-2 due December 2028 to 99.875 from 99.75, according to a market source.

Pricing on the term loan B-2 remained at SOFR plus 450 basis points with a 0.5% floor.

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

RBC Capital Markets is the lead on the deal.

Commitments were scheduled to be due at 3 p.m. ET on Thursday, extended from 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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