Arcis Golf launches $300 million term loan at Libor plus 425-450 bps

By Sara Rosenberg

New York, Nov. 9 – Arcis Golf LLC launched on Tuesday its $300 million seven-year covenant-lite term loan B (B2/BB-) with price talk of Libor plus 425 basis points to 450 bps with a 0.5% 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.

Deutsche Bank Securities Inc. is the left bookrunner and administrative agent on the deal.

Commitments are due at 5 p.m. ET on Nov. 18.

Proceeds will be used to refinance existing debt.

Arcis, privately held by Atairos and Fortress Investment Group, is a Dallas-based owner and operator of golf private and daily fee clubs.

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