TI Group to launch $1.05 billion term loan B repricing on Tuesday

By Sara Rosenberg

New York, Jan. 13 – TI Group Automotive Systems LLC is scheduled to hold a lender call on Tuesday to launch a repricing of its $1,052,000,000 term loan B that is talked at Libor plus 275 basis points to 300 bps with a 0.75% Libor floor and a par issue price, according to a market source.

The company will also launch a repricing of its €321 million term loan B that is talked at Euribor plus 300 bps to 325 bps with a 0.75% floor and a par issue price, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

The U.S. term loan B is being repriced from Libor plus 350 bps with a 1% Libor floor.

TI Group is an Oxford, England-based provider of fluid storage, carrying and delivery systems to automotive manufacturers.

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