Service King Collision to launch $700 million term loan B on Thursday

By Sara Rosenberg

New York, Dec. 2 – Service King Collision Repair Centers will hold a lender call on Thursday to launch a $700 million five-year term loan B, according to a market source.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the leads on the deal.

The term loan is non-callable for one year, then at 102 in year two and 101 in year three, the source said.

Proceeds will be used to refinance existing debt.

Service King is a Richardson, Tex.-based operator of a chain of automobile body repair centers.

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