Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aggreko LLC > News item |
Aggreko to launch $300 million, €130 million term loans on Wednesday
By Sara Rosenberg
New York, Feb. 7 – Aggreko LLC is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a non-fungible $300 million incremental term loan (B1) due August 2026 and a fungible €130 million add-on term loan (B1) due August 2026, according to a market source.
Barclays and Goldman Sachs are the physical bookrunners on the deal and global coordinators with HSBC. GLAS USA is the administrative agent.
Both tranches will get 101 soft call protection for six months, the source said.
Pricing on the euro term loan is Euribor plus 525 basis points with a 0% floor.
Commitments for the U.S. loan are due at 5 p.m. ET on Feb. 16, and commitments for the euro loan are due at noon ET on Feb. 16, the source added.
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.
© 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.