Kendra Scott ups $70 million term loan’s spread to Libor plus 600 bps

By Sara Rosenberg

New York, July 8 – Kendra Scott Designs lifted pricing on its $70 million six-year term loan to Libor plus 600 basis points from talk of Libor plus 500 bps to 525 bps, according to a market source.

As before, the term loan has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

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

BNP Paribas Securities Corp. is the lead on the deal.

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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