Hunter Fan to syndicate $425 million seven-year first-lien term loan

By Paul A. Harris

Portland, Ore., March 29 – Hunter Fan Co. launched a $425 million seven-year covenant-lite first-lien term loan (B2/B) on a Monday lender call, according to a market source.

Credit Suisse is the arranger.

The loan was launched with an interest rate of Libor plus 450 basis points to 475 bps with a 0.75% Libor floor and an original issue discount of 99.

The deal comes with six months of soft call protection at 101.

The Memphis-based ceiling fan manufacturer plans to use the proceeds to refinance debt and fund a shareholder distribution.

Hunter Fan will also put in place a $33 million revolver.

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