Albaugh to launch $75 million add-on term loan on Friday morning

By Sara Rosenberg

New York, July 28 – Albaugh Inc. is scheduled to hold a lender call at 10 a.m. ET on Friday to launch a fungible $75 million add-on term loan, according to a market source.

HSBC Securities (USA) Inc. is the lead bank on the deal.

Pricing on the add-on term loan is Libor plus 500 basis points with a 1% Libor floor, in line with existing term loan pricing, the source said.

Original issue discount talk on the add-on loan is not yet available.

Proceeds will be used for general corporate purposes.

Albaugh is an Ankeny, Iowa-based producer of generic crop protection products.

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