Augusta Sportswear talks $395 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Oct. 6 – Augusta Sportswear Group launched on Thursday its $395 million seven-year covenant-light term loan with price talk of Libor plus 450 basis points with a 1% 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, the source said.

The company’s $435 million credit facility (B+) also includes a $40 million five-year revolver.

Antares Capital is the lead on the deal.

Commitments are due on Oct. 20, the source added.

Proceeds will be used to refinance existing debt.

Closing/funding is targeted for Oct. 26.

Augusta Sportswear is an Augusta, Ga.-based manufacturer and supplier of team uniforms, spiritwear and dancewear.

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