Smart & Final talks $525 million term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, Feb. 8 - Smart & Final Holdings Corp. launched with a call on Friday the repricing of its $525 million first-lien term loan B due Nov. 15, 2019 with price talk of Libor plus 325 basis points to 350 bps with a 1% Libor floor and a par offer price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

With the transaction, the company is taking pricing on its term loan B down from Libor plus 450 bps with a 1.25% Libor floor.

Commitments are due at noon ET on Feb. 15, and closing is expected during the week of Feb. 18, the source added.

Morgan Stanley Senior Funding Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the lead banks on the deal.

Smart & Final is a Commerce, Calif.-based warehouse-style, no membership fee, multi-format retailer serving households and smaller businesses.

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