Amer Sports firms $600 million term loan B at SOFR plus 325 bps

By Sara Rosenberg

New York, Feb. 8 – Amer Sports Inc. finalized pricing on its $600 million seven-year term loan B at SOFR plus 325 basis points, the low end of the SOFR plus 325 bps to 350 bps talk, and changed the original issue discount to 99.5 from 99, according to a market source.

Pricing on the company’s €600 million seven-year term loan B firmed at Euribor plus 350 bps, the low end of the Euribor plus 350 bps to 375 bps talk, a 25 bps step-down was added at corporate ratings of Ba3/BB-, and the issue price was tightened to par from 99.5, the source said.

The term loans (B1/BB) still have a 0% floor and 101 soft call protection for six months.

JPMorgan Chase Bank and Goldman Sachs are joint bookrunners on the deal. JPMorgan is the agent.

Recommitments for the U.S. term loan were scheduled to be due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used with $600 million of senior secured notes to refinance existing debt, for general corporate purposes and to pay related fees and expenses.

Amer Sports is a sports and outdoor apparel, footwear, equipment, protective gear and accessories company.

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