Caliber Collision expected to bring $1.25 billion secured notes soon

By Paul A. Harris

Portland, Ore., Jan. 9 – Caliber Collision (Wand NewCo 3 Inc.) is expected to launch a $1.25 billion offering of senior secured notes late in the present week or in the week ahead, according to a bond trader.

The Lewisville, Tex.-based collision repair company kicked off a $2.525 billion term loan B on Monday. The bank deal is being arranged by BofA Securities Inc., Goldman Sachs Bank USA, Deutsche Bank Securities Inc., Mizuho, Truist Securities, RBC Capital Markets, Wells Fargo Securities LLC, BMO Capital Markets, JPMorgan Chase Bank, Jefferies LLC, SMBC and PNC. Commitments are due on Jan. 18.

Proceeds will be used to refinance debt and fund a distribution to shareholders.

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