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Published on 1/16/2024 in the Prospect News High Yield Daily.

Caliber Collision starts roadshow for $1.25 billion eight-year secured notes; pricing this week

By Paul A. Harris

Portland, Ore., Jan. 16 – Caliber Collision plans to price a $1.25 billion offering of Wand NewCo 3 Inc. senior secured notes due 2032 this week, according to market sources.

Initial price talk is in the low-8% area, a portfolio manager said.

The deal is scheduled to kick off on an investor conference call beginning at 12:30 p.m. ET on Tuesday.

The Rule 144A and Regulation S for life eight-year notes become subject to an initial call in three years at par plus 50% of the coupon.

Goldman Sachs & Co. LLC is the left bookrunner. BofA Securities, Inc., Deutsche Bank Securities Inc., Mizuho Securities USA Inc., Truist Securities, Inc., RBC Capital Markets Corp., Wells Fargo Securities LLC, BMO Capital Markets Corp., J.P. Morgan Securities LLC, Jefferies & Co., SMBC Nikko Securities America Inc. and PNC Capital Markets LLC are the joint bookrunners.

The Lewisville, Tex.-based collision repair company plans to use the proceeds plus a $2.525 billion term loan B to refinance debt and fund distributions to its parent entity.


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