Jeld-Wen sets Monday lender call for $550 million covenant-lite term loan refinancing

By Paul A. Harris

Portland, Ore., July 9 – Jeld-Wen, Inc. (existing ratings Ba3/BB-) set a lender call at noon ET on Monday to launch a repricing of $550 million of covenant-lite term loan debt that will mature seven years after closing, according to a market source.

The repricing deal comes with spread talk of Libor plus 225 basis points at 99.5, with no Libor floor.

The loan amortizes at an annual rate of 1% and will feature 101 soft call protection for six months after closing.

Commitments are due at noon ET on July 16.

Wells Fargo is the left arranger. BofA, Barclays, JPMorgan, Truist and RBC are joint arrangers.

The window and door company is based in Charlotte, N.C.

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