The $170 million "B" loan for Werner Ladder was three times oversubscribed last week, according to market players. Citigroup and J.P. Morgan are shopping the credit. Bankers did not indicate any changes to the LIBOR plus 31/4% price talk for the six-year institutional piece. "The revolver is doing fine," said one banker who would not confirm if it was fully subscribed yet. The five-year, $60 million revolver is priced around LIBOR plus 3%. Proceeds from the credit and from a sale of company stock to Leonard Green & Partners are to refinance the company's existing credit and to help redeem $150 million in common stock (LMW, 5/12). Majority shareholder Investcorp will keep a 51% stake in the company after the recapitalization plans are completed. A Citi official declined to comment, while calls to J.P. Morgan bankers and Larry Friend, Werner's v.p., cfo and treasurer, were not returned.