Royal Oak launches $371.5 million term loan B at Libor plus 325 bps

By Sara Rosenberg

New York, Dec. 7 – Royal Oak Enterprises LLC (Ozark Holdings LLC) was scheduled to hold a lender call at 1 p.m. ET on Thursday to launch a $371.5 million term loan B due July 1, 2023 that is talked at Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

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

Barclays and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due at noon ET on Dec. 15, the source added.

Proceeds will be used to refinance an existing term loan B.

Royal Oak is a Roswell, Ga.-based maker of charcoal products.

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