Trulite to launch $460 million credit facilities on Tuesday

By Sara Rosenberg

New York, Feb. 5 – Trulite Holding Corp. is scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch $460 million of credit facilities, according to a market source.

Jefferies LLC and Stifel are the arrangers on the deal.

The facilities consist of a $60 million five-year ABL revolver and a $400 million seven-year first-lien term loan, the source said.

Price talk on the term loan is SOFR plus 600 basis points with a 1% floor and an original issue discount of 98, the source continued.

The term loan has hard call protection of 102 in year one and soft call protection of 101 in year two, amortization of 2.5% per annum in years one, two and three and 5% per annum thereafter, and a maximum total net leverage ratio covenant.

Expected first-lien ratings are B2/B.

Commitments are due at noon ET on Feb. 15, the source added.

Proceeds will be used to refinance the company’s existing credit facilities and fund the acquisition of American Insulated Glass LLC, a fabricator and wholesale distributor of glass and glazing products designed for commercial and residential building applications.

Trulite is a value-added glass and aluminum fabricator and supplier of related architectural products.

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