Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Mavis Tire Express Services TopCo Corp. > News item |
Mavis Tire launches $2.3 billion term loan at SOFR plus 350 bps
By Sara Rosenberg
New York, Jan. 16 – Mavis Tire Express Services TopCo Corp. was scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a roughly $2.301 billion first-lien term loan due May 4, 2028 that is talked at SOFR plus 350 basis points with a 0.75% floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months and no CSA, the source said.
Jefferies LLC is the bookrunner on the deal.
Consents are due at noon ET on Jan. 23, the source added.
Proceeds will be used to reprice an existing first-lien term loan down from SOFR+CSA plus 400 bps with a 0.75% floor. CSA on the existing loan is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.
Mavis is a Millwood, N.Y.-based tire and service retailer.
© 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.