Samsonite launches $665 million term loan at Libor plus 175-200 bps

By Sara Rosenberg

New York, April 12 – Samsonite International SA launched on Thursday its $665 million seven-year covenant-light term loan B (Ba1/BBB-) with price talk of Libor plus 175 basis points to 200 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.

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

Bank of America Merrill Lynch, HSBC Bank USA, Morgan Stanley Senior Funding Inc. and SunTrust Robinson Humphrey Inc. are the lead arrangers on the deal.

Commitments are due at noon ET on April 19, the source added.

Proceeds will be used to refinance an existing term loan B.

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

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