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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Deutsche Bank Securities, PNC Arrange Upsize, Refi for Ferro Corporation
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Lenders/Participants
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Deutsche Bank Securities, Inc. [Joint Lead Arranger]
PNC Bank [Joint Lead Arranger]
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Structure
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Senior Secured Term & Revolving Facilities
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Amount
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$1.320
Billion
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Borrower(s)
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Ferro Corporation
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Description
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Company secured a new $820 million senior-secured term loan facility and increased its senior-secured revolving credit facility to $500 million. The Company will use the proceeds to repay outstanding balances on its prior facility. The refinancing attracted significant interest in the lending community, allowing the Company to secure attractive pricing while extending the debt maturity of the revolving credit facility. The debt facility includes the following: $355 million term loan, maturing 2024 - Interest rate of LIBOR + 225 bps; $235 milllion term loan, maturing 2024 - Interest rate of LIBOR + 225 bps; $230 million term loan, raised at a German subsidiary, maturing 2024 - Initial interest rate of LIBOR + 225 bps.
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Industry
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Technology
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| Related Tags |
Deutsche Bank Securites, PNC Bank
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ABL Advisor
Deal Tables
2025
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