Firth Rixson Said to Seek Interest Rate Cut on $705 Million Loan
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Firth Rixson Ltd., the U.K. engineering company owned by Oak Hill Capital Partners LP, wants to lower the cost of $705 million of loans raised in November, according to two people with knowledge of the deal.
The company is proposing to reduce the interest margin on its $420 million deal due 2017 to 300 basis points from 425 basis points, said the people, who asked not to be identified because the transaction is private. A basis point is 0.01 percentage point.