At Home launches $425 million term loan B at Libor plus 325-350 bps

By Sara Rosenberg

New York, Nov. 8 – At Home Holding III Inc. launched on Thursday its $425 million seven-year senior secured covenant-light term loan B (B2/B+) with price talk of Libor plus 325 basis points to 350 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

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

Bank of America Merrill Lynch, Wells Fargo Securities LLC and Jefferies LLC are the lead arrangers on the deal.

Commitments are due at noon ET on Nov. 16, the source added.

Proceeds will be used to refinance an existing term loan due June 2022, reduce outstanding borrowings under an asset-based revolving credit facility and pay fees and expenses associated with the transaction.

At Home is a Plano, Texas-based specialty retailer of home decor products.

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