Samsonite launches $600 million term loan B at SOFR plus 275 bps

By Sara Rosenberg

New York, June 5 – Samsonite International SA held a lender call at 11 a.m. ET on Monday to launch a $600 million seven-year term loan B (//BBB-) that is talked at SOFR plus 275 basis points with a 0.5% floor and an original issue discount of 98.5 to 99, according to market sources.

The term loan B has 101 soft call protection for six months, sources said.

JPMorgan Chase Bank is the left lead on the term loan B.

Commitments are due at 5 p.m. ET on June 12, sources continued.

Along with the term loan B, the company is getting an $800 million term loan A priced at SOFR plus 137.5 bps and an $850 million revolving credit facility.

HSBC Securities (USA) Inc. is the left lead on the term loan A and revolver, and syndication of those tranches has already been completed, sources added.

Proceeds will be used with cash on hand to refinance the company’s existing senior secured credit facilities.

Samsonite is a Hong Kong-based manufacturer of bags and luggage.

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