Sportsman's sets Wednesday meeting on $145 million term loan

By Paul A. Harris and Sara Rosenberg

Portland, Ore., Oct. 9 - Sportsman's Warehouse, Inc. is in the market with a new $145 million six-year first lien term loan, according to an informed source.

The deal will be presented at a bank meeting on Wednesday morning.

Credit Suisse Securities (USA) LLC is the lead.

The loan is talked at Libor plus 525 basis points with a 1.5% Libor floor and an original issue discount of 99, the source said. There is 101 repricing protection for one year.

The loan also features maximum leverage and interest coverage ratios.

The Midvale, Utah-based outdoor sporting goods retailer plans to use the proceeds to fund a dividend to its shareholders.

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