C.H.I. Overhead tightens OID on incremental first-lien loan to 99.5

By Sara Rosenberg

New York, Nov. 22 – C.H.I. Overhead Doors Inc. revised the original issue discount on its $115 million incremental first-lien term loan (B3/B) due July 31, 2022 to 99.5 from 99, according to a market source.

Pricing on the incremental term loan is Libor plus 375 basis points with a 1% Libor floor.

UBS Investment Bank and KKR Capital Markets are the bookrunners on the deal.

Proceeds will be used to refinance an existing second-lien term loan priced at Libor plus 775 bps with a 1% Libor floor.

Including the incremental loan, the first-lien term loan will total $428.6 million.

In connection with the transaction, pricing on the existing first-lien term loan is being lifted to Libor plus 375 bps from Libor plus 350 bps due to a leverage step.

C.H.I. Overhead is an Arthur, Ill.-based manufacturer and marketer of overhead garage doors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.