Pike to repay 2028 term loan borrowings with notes proceeds

By Sara Rosenberg

New York, Nov. 29 – Pike Corp. plans to repay borrowings under its term loan due 2028 that is priced at SOFR plus 350 basis points using proceeds from a $400 million senior notes offering, according to a market source.

Remaining proceeds from the notes will be used for general corporate purposes, including repayment of borrowings outstanding under the company’s revolving credit facility.

Pike is a Mount Airy, N.C.-based specialty construction and engineering firm.

© 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.