AHF Products launches $215 million term loan at SOFR plus 625 bps

By Sara Rosenberg

New York, Jan. 19 – AHF Products LLC launched on Wednesday its $215 million seven-year first-lien term loan (B2/B) with price talk of SOFR+CSA plus 625 basis points with a 0.75% floor and an original issue discount of 98, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The term loan has 101 hard call protection for one year, a total net leverage covenant, and amortization of 2.5% in year one and 5% per annum thereafter, the source said.

UBS Investment Bank, KeyBanc Capital Markets and Stifel are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 2, the source added.

The company is also getting a $50 million ABL revolving credit facility.

Proceeds will be used to help fund the buyout of the company by Paceline Equity Partners from American Industrial Partners.

Closing is expected this quarter.

AHF Products is a Mountville, Pa.-based manufacturer of hardwood and vinyl flooring.

© 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.