Conair revises loan sizes, updates first-lien term loan pricing

By Sara Rosenberg

New York, May 13 – Conair Corp. upsized its seven-year senior secured first-lien term loan to $1.27 billion from $1.165 billion and downsized its privately placed second-lien term loan to $410 million from $430 million, according to a market source.

Also, pricing on the first-lien term loan was set at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, and the original issue discount was tightened to 99.5 from 99, the source said.

The first-lien term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, Barclays, Jefferies LLC and Stifel are the leads on the deal.

Proceeds will be used with equity to fund the buyout of the company by American Securities LLC.

Conair is a Stamford, Conn.-based designer, manufacturer, and marketer of personal care and small kitchen appliances, cookware, hair brushes & accessories, cosmetic bags, and travel accessories.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.