Camping World raises add-on term loan amount to $205 million

By Sara Rosenberg

New York, Oct. 4 – Camping World upsized its add-on senior secured term loan due Nov. 8, 2023 to $205 million from $195 million, according to a market source.

Pricing on the add-on term loan, as well as on the repricing of the company’s existing $736 million senior secured term loan B due Nov. 8, 2023, is Libor plus 300 basis points with a 0.75% Libor floor.

The add-on has an original issue discount of 99.75 and the repricing has a par issue price.

The term loan debt includes 101 soft call protection for six months.

Previously in syndication, pricing on the term loan debt firmed at the low end of the Libor plus 300 bps to 325 bps talk.

Goldman Sachs Bank USA and J.P. Morgan Securities LLC are the lead banks on the deal.

Recommitments were due at 12:30 p.m. ET on Wednesday, the source said.

Proceeds from the add-on term loan will be used for the purchase of inventory and capital expenditures for Gander Outdoors and for future acquisitions, and the repricing will take the existing term loan down from Libor plus 375 bps with a 0.75% Libor floor.

Camping World is a Lincolnshire, Ill.-based seller of RVs and supplier of RV parts, supplies and accessories.

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