At Home trims spread on $600 million term loan to Libor plus 425 bps

By Sara Rosenberg

New York, June 24 – At Home Group Inc. lowered pricing on its $600 million term loan B (B1/B) to Libor plus 425 basis points from talk in the range of Libor plus 450 bps to 475 bps, according to a market source.

Also, the original issue discount on the term loan was tightened to 99.25 from 99, the source said.

The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

BofA Securities Inc., Barclays, Deutsche Bank Securities Inc. and Wells Fargo Securities LLC are the leads on the deal.

Recommitments were scheduled to be due at 1 p.m. ET on Thursday, accelerated from 5 p.m. ET on Thursday, the source added.

Proceeds will be used to help fund the buyout of the company by Hellman & Friedman for $37.00 per share in cash.

Other funds for the transaction will come from $300 million of senior secured notes, $500 million of senior unsecured notes and equity.

At Home is a Plano, Tex.-based home decor superstore.

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