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Camping World sets $300 million term loan B at 98.56 OID
By Sara Rosenberg
New York, Dec. 15 – Camping World Holdings Inc. firmed the original issue discount on its fungible $300 million incremental term loan B due June 2028 (Ba3/BB-) at 98.56, the wide end of the 98.56 to 99 talk, according to a market source.
Pricing on the incremental term loan is Libor plus 250 basis points with a 0.75% Libor floor, in line with existing term loan pricing.
The incremental and existing term loan are getting 101 soft call protection for six months.
Amortization on the incremental term loan is 1% per annum.
Goldman Sachs Bank USA and JPMorgan Chase Bank are the bookrunners on the deal. Goldman is the administrative agent.
Proceeds will be used for general corporate purposes, including adding cash to the balance sheet to fund future acquisitions.
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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