Aggreko prices €300 million and $300 million term loan add-ons

By Paul A. Harris

Portland, Ore., Feb. 17 – Aggreko LLC priced two tranches of non-fungible incremental term loan paper due Aug. 17, 2026 (B1/BB-/BB+), according to market sources.

A €300 million incremental tranche, upsized from €130 million, priced with a 525 basis points spread to Euribor and an original issue discount of 97.5.

A $300 million tranche priced at SOFR plus 550 bps with OID of 94.

The borrowing entities are Aggreko Holdings Inc. and Albion Financing 3 Sarl.

Left lead Barclays and Goldman Sachs are the physical bookrunners and global coordinators. HSBC is also a global coordinator. GLAS USA is the administrative agent.

Proceeds will be used to refinance some debt, including debt related to the acquisition of Resolute Industrial from AE Industrial Partners LP for $440 million.

Aggreko is a Glasgow, U.K.-based provider of mobile power, heating and cooling solutions. Resolute Industrial is a provider of specialized temporary heating, ventilation, air conditioning and refrigeration solutions.

Its sponsors are I Squared Capital and TDR Capital.

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