Brock readies launch of $500 million term loan B for Wednesday

By Sara Rosenberg

New York, April 9 – Brock Holdings III LLC is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a $500 million six-year first-lien term loan B, according to a market source.

Deutsche Bank Securities Inc. is the left bookrunner on the deal and the administrative agent.

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

Expected term loan ratings are B3/B-.

Commitments are due at 5 p.m. ET on April 24, the source added.

The company also plans on getting a $150 million asset-based revolving credit facility.

Proceeds will be used to refinance the company’s existing capital structure.

Brock is a Houston-based industrial specialty craft services provider of scaffolding, coatings, insulation, painting, abatement, and other soft crafts, as well as mechanical and safety services.

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