S&S Holdings to launch $800 million of term loans on Thursday

By Sara Rosenberg

New York, Feb. 17 – S&S Holdings LLC is scheduled to hold a lender call at 9:30 a.m. ET on Thursday to launch $800 million of term loans, according to a market source.

Barclays, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, BMO Capital Markets, BNP Paribas Securities Corp., Citizens, Natixis and Truist are the bookrunners on the deal.

The debt consists of a $600 million seven-year first-lien term loan and a $200 million eight-year second-lien term loan, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

The company is also getting a $225 million five-year ABL revolver.

Proceeds will be used to help fund the buyout of the company by Clayton, Dubilier & Rice.

Closing is expected this quarter.

S&S is a Bolingbrook, Ill.-based distributor of imprintable apparel and accessories.

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