Truck Hero finalizes $859 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, May 23 – Truck Hero Inc. firmed pricing on its $859 million term loan at Libor plus 375 basis points, the high end of the Libor plus 350 bps to 375 bps talk, according to a market source.

The term loan still has a 0% Libor floor, a par issue price and 101 soft call protection for six months.

Jefferies LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 400 bps with a 1% Libor floor.

Truck Hero is an Ann Arbor, Mich.-based provider of truck bed covers and other truck and Jeep accessories.

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