Wheel Pros to launch $175 million incremental term loan on Monday

By Sara Rosenberg

New York, Aug. 6 – Wheel Pros Inc. is scheduled to hold a lender call at 10 a.m. ET on Monday to launch a fungible $175 million incremental first-lien term loan due May 2028, according to a market source.

Deutsche Bank Securities Inc. is the bookrunner on the deal and the administrative agent.

Pricing on the incremental term loan is Libor plus 450 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

Original issue discount talk on the incremental term loan is still to be determined.

Commitments are due at noon ET on Thursday, the source added.

Proceeds will be used to fund acquisitions.

Wheel Pros is a Denver-based designer, manufacturer and distributor of proprietary branded aftermarket vehicle enhancements for light trucks, SUVs, passenger cars and ATVs/UTVs.

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