Associated Materials talks $550 million seven-year term loan at SOFR plus 575-600 bps at 98.5

By Paul A. Harris

Portland, Ore., Feb. 22 – New AMI I, LLC, which does business as Associated Materials, talked its $550 million seven-year term loan B (B2/B) at SOFR plus 575 basis points to 600 bps atop a 0.5% floor at OID 98.5, according to a market source.

The deal comes with six months of call protection at a 101 premium.

Commitments are due at noon ET on March 8.

RBC is the left lead and Credit Suisse is the co-lead in a syndicate of banks that also includes UBS, KKR, Macquarie, BMO and PNC.

The building products company is being acquired by Strategic Value Partners, LLC for $950 million.

© 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.