Sound United launches $380 million term B at Libor plus 475-500 bps

By Sara Rosenberg

New York, April 7 – Sound United launched a $380 million seven-year first-lien term loan B that is talked at Libor plus 475 basis points to 500 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

BofA Securities Inc. and KKR Capital Markets are the leads on the deal.

Commitments are due at noon ET on April 21, the source added.

Proceeds will be used to refinance existing debt.

Sound United is a Vista, Calif.-based manufacturer and retailer of audio equipment.

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