Janus talks $625 million term loan B at SOFR plus 350-375 bps, 98 OID

By Paul A. Harris

Portland, Ore., July 17 – Janus International Group launched a $625 million seven-year term loan B (B1/B+) with spread talk of SOFR+ 10 basis points CSA plus 350 basis points to 375 bps and an original issue discount of 98 on Monday, according to a market source.

The spread would float atop a 1% floor.

The loan features 101 soft call protection for six months and amortizes at an annual rate of 1%.

There is a 25 bps margin step-down upon achieving corporate ratings of B1 from Moody’s Investors Service and B+ from S&P Global Ratings.

Goldman Sachs is the left arranger. JPMorgan and BofA are the joint arrangers.

Proceeds will be used to refinance the company’s term loan B due February 2025.

The borrower provides self-storage and commercial industrial doors, relocatable storage units, facility automation solutions, and door replacement and self-storage restoration services.

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