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ABC Supply launches $1.48 billion term loan B at Libor plus 200 bps
By Sara Rosenberg
New York, Oct. 23 – ABC Supply (American Builders & Contractors Supply Co. Inc.) held a lender call on Wednesday to launch a roughly $1.48 billion covenant-lite term loan B (B1/B+) due January 2027, according to a market source.
BofA Securities Inc. is the left lead arranger on the deal.
Price talk on the term loan is Libor plus 200 basis points with a 0% Libor floor and an original issue discount of 99.25 to 99.5, the source said.
The term loan has 101 soft call protection for six months.
Proceeds will be used to amend and extend an existing term loan B due October 2023.
ABC Supply is a Beloit, Wis.-based building products distributor.
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