BBB Industries increases incremental term loan to $75 million

By Sara Rosenberg

New York, Dec. 11 – BBB Industries LLC upsized its incremental covenant-light first-lien term loan due August 2025 to $75 million from $55 million, according to a market source.

Pricing on the incremental term loan is Libor plus 450 basis points with a 0% Libor floor, which matches existing term loan pricing.

The incremental term loan was sold in line with talk at an original issue discount of 98 and has the same 101 soft call protection as the existing term loan.

UBS Investment Bank is the left lead on the deal that allocated late Monday.

Proceeds will be used to fund the acquisition of Remy Power Products’ North American Rotating Electrical business and for general corporate purposes.

BBB is a Daphne, Ala.-based remanufacturer of automotive products.

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