C.H.I. Overhead Doors gives first-, second-lien loan talk with launch

By Sara Rosenberg

New York, July 27 - C.H.I. Overhead Doors released price talk on its first- and second-lien term loans as the debt was launched with a bank meeting on Wednesday, according to a market source.

The $127.5 million six-year first-lien term loan is being talked at Libor plus 525 basis points with a 1.5% Libor floor and an original issue discount of 99, and the $51 million 61/2-year second-lien term loan is being talked at Libor plus 925 bps with a 1.5% Libor floor and a discount of 98, the source said.

Call protection on the second-lien term loan is 103 in year one, 102 in year two and 101 in year three.

The company's $203.5 million credit facility also includes a $25 million five-year revolver.

GE Capital Markets and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to help fund the buyout of the company by Friedman Fleischer & Lowe from JLL Partners.

C.H.I. Overhead Doors is a garage door company and a manufacturer of residential sectional garage doors, as well as commercial sectional and rolling steel.

© 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.