BBB Industries launches $438 million term loan B at Libor plus 450 bps

By Sara Rosenberg

New York, Aug. 3 – BBB Industries LLC launched on its call on Thursday a $438 million term loan B that is talked at Libor plus 450 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

Nomura is the lead on the deal.

Proceeds will be used to reprice an existing term loan B from Libor plus 500 bps with a 1% Libor floor.

Commitments are due at noon ET on Aug. 14, the source added.

BBB is a Daphne, Ala.-based remanufacturer of automotive products for the North American aftermarket.

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