Mister Car lifts term B to $925 million, flexes to SOFR plus 300 bps

By Sara Rosenberg

New York, March 21 – Mister Car Wash Holdings Inc. upsized its seven-year term loan B (B2/B) to $925 million from $901 million and reduced pricing to SOFR plus 300 basis points from SOFR plus 325 bps, according to a market source.

Also, the original issue discount talk on the term loan was changed in the morning to a range of 99.75 to 99.875 from 99.5, and then the issue price was tightened to par in the afternoon, the source said.

The term loan still has a 0% floor, 101 soft call protection for six months and no CSA.

BofA Securities Inc. is the left lead arranger on the deal.

Commitments were scheduled to be due at 3:30 p.m. ET on Thursday, the source added.

Proceeds will be used to refinance the company’s outstanding term loans.

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

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