Array Technologies talks $575 million term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Sept. 24 – Array Technologies launched on Thursday its $575 million seven-year first-lien term loan B with price talk of Libor plus 375 basis points to 400 bps with a 0.5% Libor floor and an original issue discount of 98.5, 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.

Goldman Sachs Bank USA, Barclays, Nomura, MUFG, Credit Suisse Securities (USA) LLC, Guggenheim and UBS Investment Bank are the leads on the deal.

Commitments are due on Oct. 7, the source added.

Proceeds will be used to support a dividend to the company’s shareholders.

Array Technologies is an Albuquerque-based manufacturer of ground-mounting systems used in solar energy projects.

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