News Details

( 07 Nov 2017)
Milacron re-prices $940 mn senior secured term loan

Milacron Holdings Corp., a leading industrial technology company, on Monday said that its wholly owned subsidiary, Milacron LLC, has re-priced its USD 940 million senior secured term loan with a maturity date of September 28, 2023, reducing the interest rate from LIBOR plus 3.00 per cent to LIBOR plus 2.75 per cent.

“The interest rate reduces to LIBOR plus 2.50 per cent when Milacron's net total leverage is less than or equal to 3.50x (adjusted on a quarterly basis),” Milacron Holdings Corp. said in a statement.

The transaction is anticipated to generate annual cash interest savings, after taxes, of approximately USD 2.4 million (calculated at current LIBOR rates), on a pro forma basis.

The transaction is expected to close on November 8, 2017 and remains subject to documentation and customary closing conditions.

The potential refinancing transactions are subject to market and other conditions. As such, there is no assurance that the refinancing transactions will be completed on the terms described above or at all.