Bass Pro sets spread on $1.74 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, May 29 – Bass Pro Group LLC firmed pricing on its $1.74 billion term loan (B1/BB-) due June 2020 at Libor plus 325 basis points, the low end of revised talk of Libor plus 325 bps to 350 bps and down from initial talk of Libor plus 350 bps to 375 bps, according to a market source.

In addition, the original issue discount on the term loan was modified to 99.75 from 99, the source said.

The loan still has a 0.75% Libor floor and 101 soft call protection for one year.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

Bass Pro is a Springfield, Mo.-based retailer of outdoor sports and recreation products.

© 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.