Kendra Scott talks $70 million term loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, June 12 – Kendra Scott Designs is talking its $70 million six-year term loan at Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

The company’s $85 million credit facility also includes a $15 million five-year revolver.

Commitments are due on June 25, the source added.

BNP Paribas Securities Corp. is the lead on the deal that launched with a bank meeting on Thursday.

Proceeds will be used to refinance existing debt and fund a dividend.

Kendra Scott is an Austin, Texas-based jewelry and accessories company.

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