Clarios launches $1 billion term loan B at SOFR plus 400 bps

By Sara Rosenberg

New York, April 17 – Clarios was scheduled to hold a lender call at 11 a.m. ET on Monday to launch a $1 billion seven-year term loan B that is talked at SOFR plus 400 basis points with a 0% floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the lead on the deal.

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

Proceeds will be used with $500 million of other secured debt to refinance a portion of the company’s existing term loan due 2026.

Clarios is a Milwaukee-based supplier of low voltage automotive batteries.

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