Miter Brands to launch $1.3 billion term loan B-2 on Thursday

By Sara Rosenberg

New York, March 13 – Miter Brands is set to hold a lender call at noon ET on Thursday to launch a non-fungible $1.3 billion incremental term loan B-2, according to a market source.

RBC Capital Markets is the left lead on the deal.

Proceeds will be used with $500 million of other senior secured debt and equity from Koch Equity Development LLC, a current investor in Miter, to fund the acquisition of PGT Innovations Inc. for $42.00 per share in cash, or an enterprise value of about $3.1 billion.

Closing is expected by mid-year, subject to PGT shareholder approval, regulatory approval and customary conditions.

Miter is a manufacturer of precision-built windows and doors. PGT is a North Venice, Fla.-based designer and manufacturer of patio door and window solutions.

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