Springs Window talks $1.63 billion term B at Libor plus 400-425 bps

By Sara Rosenberg

New York, Sept. 9 – Springs Window Fashions is shopping its $1.625 billion term loan B (B2/B-) at talk of Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

JPMorgan Chase Bank, Deutsche Bank Securities Inc., Mizuho, Nomura, Jefferies LLC and KKR Capital Markets are the leads on the deal that launched with a call on Wednesday.

Proceeds will be used to help fund the buyout of the company by Clearlake Capital Group LP from AEA Investors LP and British Columbia Investment Management Corp.

Closing is expected in the third quarter, subject to customary regulatory approvals.

Springs Window is a Middleton, Wis.-based manufacturer and seller of custom window coverings.

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