B/E Aerospace launches $2.2 billion term B at Libor plus 350-375 bps

By Sara Rosenberg

New York, Nov. 12 – B/E Aerospace Inc. launched on Wednesday its $2.2 billion seven-year term loan B with price talk of Libor plus 350 basis points to 375 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The $2.8 billion credit facility (Ba2/BB+) also includes a $600 million five-year revolver.

J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Goldman Sachs Bank USA are the lead banks on the deal.

Commitments are due on Nov. 21, the source added.

Proceeds will be used to refinance existing debt.

B/E Aerospace is a Wellington, Fla.-based manufacturer of aircraft cabin interior products and a provider of aerospace fasteners, consumables and logistics services.

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