At Home withdraws $425 million term B, seeks $50 million add-on

By Sara Rosenberg

New York, Nov. 20 – At Home Holding III Inc. pulled its $425 million seven-year senior secured covenant-light term loan B (B2/B+) from market, instead getting a $50 million add-on term loan due June 2022, according to a market source.

Pricing on the add-on term loan is Libor plus 350 basis points with a 0% Libor floor and an original issue discount of 99.27, the source said.

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

Proceeds from the add-on term loan will be used to repay drawings under the company’s asset-based revolving credit facility.

The $425 million term loan B had been talked at Libor plus 325 bps to 350 bps with a 0% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months. Proceeds were going to be used to refinance the existing term loan due June 2022 and repay asset-based revolver borrowings.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.