Echo Global Logistics sets Tuesday lender call for $550 million covenant-lite first-lien loan

By Paul A. Harris

Portland, Ore., Oct. 25 – Einstein Merger Sub, Inc. plans to host a lender call beginning at 10 a.m. ET on Tuesday to kick off a $550 million seven-year covenant-lite first-lien term loan backing the acquisition of Echo Global Logistics by The Jordan Co., according to a market source.

Credit Suisse, Citigroup, BMO, BNP Paribas, Citizens, UBS and MUFG are the arrangers.

The deal features six months of soft call protection at 101. The spread and price remain to be determined.

The financing also includes a $100 million revolver and a privately placed $160 million second-lien loan.

Echo Global Logistics is a Chicago-based provider of technology-enabled transportation and supply chain management services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.