Camping World talks $1.1 billion term B at Libor plus 250-275 bps

By Sara Rosenberg

New York, May 13 – Camping World Holdings Inc. launched on Thursday its $1.1 billion seven-year term loan B (Ba3/BB-) with price talk of Libor plus 250 basis points to 275 bps with a 0.75% 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 and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA and JPMorgan Chase Bank are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on May 24, the source added.

Proceeds will be used to refinance an existing term loan B due 2023.

In addition, the company is seeking an amendment to its revolving credit facility that would increase the revolver capacity and extend the maturity date.

Closing is expected this month.

Camping World is a Lincolnshire, Ill.-based retailer of recreational vehicles and related products and services.

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