American Bath to launch incremental term loan, repricing on Wednesday

By Sara Rosenberg

New York, May 29 – American Bath Group LLC is set to hold a lender call at 2 p.m. ET on Wednesday to launch a $50 million incremental first-lien term loan due Sept. 30, 2023 and a repricing of its existing $582 million first-lien term loan due Sept. 30, 2023, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

The term loans will include a 1% Libor floor and 101 soft call protection for six months, the source said.

Proceeds from the incremental loan will be used to fund a distribution to shareholders.

Commitments are due on June 6, the source added.

American Bath is a Savannah, Tenn.-based designer and manufacturer of fiberglass reinforced plastic, sheet molded compound and acrylic bathtubs and showers.

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