Mister Car Wash lifts incremental term loan size to $60 million

By Sara Rosenberg

New York, March 27 – Mister Car Wash Holdings Inc. upsized its incremental first-lien term loan due Aug. 21, 2021 to $60 million from $50 million, according to a market source.

Pricing on the incremental term loan matches existing term loan pricing at Libor plus 325 basis points with a 1% Libor floor.

The original issue discount talk on the incremental term loan was unchanged at 99.52.

Jefferies LLC is the lead arranger on the deal.

Recommitments were scheduled to be due at noon ET on Wednesday, the source said.

Proceeds will be used to pay down revolving credit facility borrowings and to fund cash to the balance sheet.

Mister Car Wash is a Tucson, Ariz.-based car wash company.

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