Les Schwab Tire launches $1.92 billion term loan at SOFR plus 325 bps

By Sara Rosenberg

New York, April 9 – Les Schwab Tire Centers held a lender call at 10:30 a.m. ET on Tuesday to launch a $1.918 billion term loan B that is talked at SOFR plus 325 basis points with a 0% floor and an original issue discount of 99.5, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due on April 17, the source added.

Proceeds will be used to refinance an existing term loan B and for general corporate purposes.

Les Schwab is a Bend, Ore.-based tire retail chain.

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