Bob’s Discount wraps $150.2 million term loan B at SOFR plus 725 bps

By Sara Rosenberg

New York, Aug. 22 – Bob’s Discount Furniture (BDF Acquisition Corp.) completed syndication of a roughly $150.19 million term loan B due Feb. 12, 2026 (Caa1/B-) priced at SOFR plus 725 basis points with a 1% floor, according to a market source.

The term loan was issued with a 5% amendment fee/original issue discount of 95, the source said.

Included in the term loan is 101 soft call protection for six months and a maximum annual capital expenditures covenant.

Allocations went out on Friday.

RBC Capital Markets is the lead on the deal.

Proceeds will be used to amend and extend a portion of the company’s existing term loan B from Aug. 12, 2023.

The company’s remaining roughly $68.7 million non-extended covenant-lite term loan B due Aug. 12, 2023 (Caa1/B-) continues to be priced at SOFR plus 525 bps with a 1% floor.

Closing is expected on Wednesday.

Bob’s Discount is a furniture retailer.

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