Wabash National to launch $150 million term loan B on Thursday

By Sara Rosenberg

New York, Sept. 9 – Wabash National Corp. is set to hold a lender call at 11 a.m. ET on Thursday to launch a $150 million seven-year covenant-lite term loan B, according to a market source.

Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the lead arrangers on the deal.

The term loan includes 101 soft call protection for six months and amortization of 1% per annum, the source said.

Security is a second priority lien on ABL collateral and a first lien on substantially all other assets excluding real estate.

Proceeds will be used to refinance an existing term loan B due 2022 and for general corporate purposes.

Commitments are due at noon ET on Sept. 17, the source added.

Wabash is a Lafayette, Ind.-based manufacturer of commercial trailer products.

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