US Farathane launches $390 million term B at Libor plus 550-575 bps

By Sara Rosenberg

New York, Jan. 21 – US Farathane Corp. launched on Wednesday its $390 million seven-year term loan B with price talk of Libor plus 550 basis points to 575 bps with a 1% Libor floor and an original issue discount of 98˝, according to a market source.

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

Bank of America Merrill Lynch, Barclays, Morgan Stanley Senior Funding Inc. and MCS Capital are the leads on the deal.

Commitments are due on Feb. 4, the source added.

Proceeds will be used to help fund the buyout of the company by the Gores Group and several members of US Farathane’s management, including its chief executive officer, Andy Greenlee.

US Farathane is an Auburn Hills, Mich.-based provider of highly engineered plastic injection-molded components.

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