Sally Beauty launches $399 million term loan B at SOFR plus 225 bps

By Sara Rosenberg

New York, Sept. 5 – Sally Beauty Holdings Inc. was scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a $399 million term loan B due Feb. 28, 2030 that is talked at SOFR plus 225 basis points with a 0% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and no credit spread adjustment, the source said.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used to reprice an existing term loan B down from SOFR plus 250 bps with a 0% floor.

The borrowers are Sally Holdings LLC and Sally Capital Inc.

Sally Beauty is a Denton, Tex.-based retailer and distributor of professional beauty supplies.

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