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SiteOne launches $350 million term loan B at Libor plus 500 bps
By Sara Rosenberg
New York, Sept. 22 – SiteOne Holding LLC (formerly JDA Holding LLC) launched on Tuesday its $350 million six-year first-lien term loan B with price talk of Libor plus 500 basis points 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.
UBS Securities LLC is the bookrunner on the deal.
Commitments are due on Oct. 6, the source added.
Proceeds will be used to refinance existing debt and fund a dividend.
Clayton Dubilier & Rice is the sponsor.
SiteOne is an Alpharetta, Ga.-based wholesale distributor of landscape supplies for green industry professionals, including irrigation supplies.
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