Bowlero launches $715 million term loan B at Libor plus 325-350 bps

By Sara Rosenberg

New York, June 4 – Bowlero Corp. held a lender call on Monday to launch a $715 million term loan B (B2) due 2024 that is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and an original issue discount of 99.875, according to a market source.

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

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

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

Proceeds will be used to refinance an existing term loan B and add cash to the balance sheet.

Bowlero is a New York-based operator of bowling centers.

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