Callaway Golf to launch $950 million term loan B on Thursday

By Sara Rosenberg

New York, Feb. 16 – Callaway Golf Co. is scheduled to hold a lender call at 9 a.m. ET on Thursday to launch a $950 million seven-year term loan B, according to a market source.

BofA Securities Inc., JPMorgan Chase Bank, MUFG and Truist are the leads on the deal.

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

Proceeds will be used to refinance term loans at Callaway and at Topgolf International Inc., to repay revolving credit facility borrowings and to add cash to the balance sheet.

Callaway Golf is a Carlsbad, Calif.-based golf equipment and active lifestyle company.

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