Mavis Tire talks $470 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Nov. 10 – Mavis Tire Express Services Corp. launched on Tuesday its non-fungible $470 million incremental first-lien term loan due March 20, 2025 with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 98, according to a market source.

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

Jefferies LLC is the bookrunner on the deal.

Commitments are due on Nov. 19, the source added.

Proceeds will be used to fund an acquisition.

Mavis is a Millwood, N.Y.-based tire and service retailer.

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