Mister Car Wash finalizes $290 million term loan at 99.25 OID

By Sara Rosenberg

New York, Dec. 14 – Mister Car Wash Holdings Inc. set the original issue discount on its fungible $290 million incremental first-lien term loan due May 2026 at 99.25, the tight end of the 99.01 to 99.25 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 300 basis points with a 0% Libor floor.

Jefferies LLC is the lead on the deal.

Proceeds will be used with cash on hand to fund the acquisition of Clean Streak Ventures LLC from MKH Capital Partners for about $390 million.

Closing is expected this year, subject to customary conditions.

Mister Car Wash is a Tucson-based car wash operator.

© 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.