MasterCraft talks $105 million seven-year notes at Libor plus 625-650 bps

By Paul A. Harris

St. Louis, Sept. 27 - MCBC Holdings, Inc. (MasterCraft) set price talk for its $105 million offering of seven-year senior secured floating-rate notes (B3/B-) at Libor plus 625 to 650 basis points on Wednesday, according to an informed source.

The Rule 144A and Regulation S deal, which is being led by Jefferies & Co., is expected to price midday Friday.

The notes come with two years of call protection and a two-year equity clawback.

Proceeds will be used to fund the acquisition of MasterCraft by MCBC Holdings. The financing also includes a $63 million equity investment.

MasterCraft is a Vonore, Tenn.-based designer and manufacturer of luxury inboard sport boats.

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