Meanwhile, CSFB launched alphabet loans for Mueller and Metaldyne last week. The seven-year, $350 million "D" loan for Metaldyne is co-led with J.P. Morgan and offers a spread of LIBOR plus 23/ 4%. Rated BB-/B1, the credit backs the separation of the TriMas business from Metaldyne on behalf of sponsor group Heartland Industrial Partners.
The six-year, $530 million "E" loan for Mueller offers a spread of LIBOR plus 3%. Bankers noted that the company's "D" tranche, completed in April 2000, offered a more generous LIBOR plus 33/ 4%. The B+/B1 credit is a refinancing on behalf of sponsor DLJ Merchant Partners.