Jeld-Wen launches $100 million add-on term loan B at 99-99.25 OID

By Sara Rosenberg

New York, Sept. 9 – Jeld-Wen Inc. was scheduled to hold a lender call at 3 p.m. ET on Monday to launch a fungible $100 million add-on covenant-lite term loan B due Dec. 14, 2024 that is talked with an original issue discount of 99 to 99.25, according to a market source.

Pricing on the add-on term loan is Libor plus 200 basis points with a 0% Libor floor.

The add-on term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Security is a first priority interest on all assets not constituting ABL priority collateral of the borrowers and guarantors and a second priority security interest on all ABL priority collateral, subject to certain exclusions.

Wells Fargo Securities LLC and BofA Securities Inc. are the joint lead arrangers on the deal, with Wells Fargo the left lead. BofA is the administrative agent.

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

Proceeds will be used to repay existing debt.

The company’s existing term loan B due Dec. 14, 2024 is sized at $433 million.

Jeld-Wen is a Charlotte, N.C.-based door and window manufacturer.

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