Big Ass Fans changes $30 million incremental term loan OID to 99.75

By Sara Rosenberg

New York, Jan. 29 – Big Ass Fans LLC revised the original issue discount on its fungible $30 million incremental covenant-lite first-lien term loan (B2/B-) due May 2024 to 99.75 from 99.5, according to a market source.

The incremental term loan is priced at Libor plus 375 basis points with a 1% Libor floor, in line with the existing first-lien term loan.

Credit Suisse Securities (USA) LLC is the lead arranger on the deal.

Commitments remained due at noon ET on Friday, the source added.

Proceeds will be used to fund a shareholder distribution.

Big Ass Fans is a Lexington, Ky.-based producer of high volume, low speed and connected fans.

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