Inspire Brands launches $4.24 billion term loan at SOFR plus 275 bps

By Sara Rosenberg

New York, Jan. 8 – Inspire Brands Inc. (IRB Holding Corp.) held a lender call at noon ET on Monday to launch a $4.237 billion first-lien term loan due Dec. 15, 2027 (B2/B+) that is talked at SOFR plus 275 basis points with no CSA, a 0.75% floor and a par issue price, according to a market source.

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

Barclays is the left lead on the deal.

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

Proceeds will be used to reprice an existing $4.237 billion first-lien term loan due Dec. 15, 2027 down from SOFR+CSA plus 300 bps with a 0.75% floor. CSA on the existing loan is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Inspire Brands is an Atlanta-based multi-brand restaurant company.

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