Restoration Hardware cuts term B-2 to $500 million, revises OID to 95

By Sara Rosenberg

New York, May 5 – Restoration Hardware Inc. downsized its non-fungible incremental term loan B-2 to $500 million from $1 billion and widened the original issue discount to 95 from 97.5, according to a market source.

Furthermore, the 101 soft call protection was extended to one year from six months, the source said.

The term loan is still priced at SOFR+10 basis points CSA plus 325 bps with a 0.5% floor.

BofA Securities Inc. is the left lead on the deal.

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

Proceeds will be used for general corporate purposes.

Restoration Hardware is a Corte Madera, Calif.-based upscale home furnishings company.

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