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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Wesco, Lenders Refinance $875MM Credit Facility
Monday, December 10, 2012
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Lenders/Participants
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Merrill Lynch [Joint Lead Arranger, Joint Bookrunner]
Barclays [Joint Lead Arranger, Joint Bookrunner]
J.P. Morgan Securities [Joint Bookrunner]
Morgan Stanley Senior Funding [Joint Bookrunner]
RBC Capital Markets [Joint Bookrunner]
Sumitomo Mitsui Banking Corporation [Joint Bookrunner]
Union Bank, N.A [Joint Bookrunner]
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Structure
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Revolver
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Amount
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$200.000
Million
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Borrower(s)
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Wesco Aircraft Holdings
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Description
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The new $825 million senior secured credit facilities are comprised of a $200 million five-year revolving credit facility; and a $625 million five-year term loan facility.
The revolving credit facility and the term loan facility will carry a variable rate of interest based on, at the option of the company, either a base rate or the Eurocurrency rate plus, in each case, an applicable margin. The applicable margin for the revolving credit facility and the term loan facility is based on the consolidated total leverage ratio of the company and its subsidiaries and ranges from, for base rate loans, 0.75% to 1.50% (1.25% initially), and for Eurocurrency rate loans, 1.75% to 2.50% (2.25% initially).
Proceeds from the new credit facilities will be used (i) to refinance approximately $626.0 million of existing first lien indebtedness, (ii) to pay fees and expenses related to the new credit facilities and (iii) for general corporate purposes.
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Industry
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Distribution
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| Related Tags |
Barclays, J.P. Morgan Securities, Morgan Stanley Senior Funding, RBC Captial Markets, Union Bank
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ABL Advisor
Deal Tables
2025
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