Mavis Tire gets $200 million privately placed incremental term loan

By Sara Rosenberg

New York, April 3 – Mavis Tire Express privately placed a fungible $200 million incremental first-lien term loan due May 2028 with Golub Capital and Ares, according to a market source.

Pricing on the term loan is SOFR plus 375 basis points with a 0.75% floor.

The term loan has 101 soft call protection until July.

Proceeds will be used to repay revolving credit facility borrowings.

The pro forma first-lien term loan size is roughly $2.5 billion.

Mavis is a Millwood, N.Y.-based tire and service retailer.

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