DXP Enterprises talks $330 million term B at Libor plus 500-525 bps

By Sara Rosenberg

New York, Dec. 8 – DXP Enterprises Inc. launched on Tuesday its $330 million seven-year first-lien term loan B (B2/B) with price talk of Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA, BMO Capital Markets, Stephens and BofA Securities Inc. are the leads on the deal.

Commitments are due at noon ET on Dec. 16, the source added.

Proceeds will be used to refinance the company’s existing capital structure and add cash to its balance sheet.

DXP is a Houston-based provider of maintenance, repair, operating products, equipment and services to energy and industrial customers.

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