Wheel Pros launches $200 million incremental term loan at 99-99.5 OID

By Sara Rosenberg

New York, Feb. 2 – Wheel Pros Inc. launched on Tuesday its fungible $200 million incremental first-lien term loan (B-) due November 2027 with original issue discount talk of 99 to 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 525 basis points with a 1% Libor floor, in line with existing term loan pricing.

UBS Investment Bank and Jefferies LLC are the joint lead arrangers on the deal.

Commitments are due on Feb. 12, the source added.

Proceeds will be used to repay a second-lien term loan.

Wheel Pros, a Clearlake Capital portfolio company, is a Denver-based distributor of proprietary branded wheels and performance tires.

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