BBB Industries discloses price guidance; Mad Engine, Charter Next Generation ready deals

By Sara Rosenberg

New York, June 18 – In the primary market on Friday, BBB Industries LLC released original issue discount talk on its incremental first-lien term loan in connection with its lender call.

In addition, Mad Engine Global LLC and Charter Next Generation Inc. joined the near-term primary calendar.

BBB sets talk

BBB Industries held its lender call on Friday morning and announced original issue discount talk of 99.25 on its fungible $180 million incremental first-lien term loan, a market source remarked.

Pricing on the incremental term loan is Libor plus 450 basis points with a 0% Libor floor.

Commitments/consents are due on June 25, the source added.

UBS Investment Bank, Credit Suisse Securities (USA) LLC and BMO Capital Markets are leading the deal that will be used to refinance an existing second-lien term loan.

Existing lenders are being offered a 25 bps amendment fee.

Genstar Capital is the sponsor.

BBB Industries is a Daphne, Ala.-based remanufacturer and distributor of non-discretionary and application specific replacement parts to the North American and European automotive aftermarket.

Mad Engine on deck

Made Engine set a lender call for 11 a.m. ET on Monday to launch a $250 million six-year covenant-lite first-lien term loan, according to a market source.

Deutsche Bank Securities Inc., Wells Fargo Securities LLC and Credit Suisse Securities (USA) LLC are leading the deal that will be used to help fund the acquisition of Fifth Sun from company founder Dan Gonzales, according to a news release.

Mad Engine, a Platinum Equity portfolio company, is a San Diego-based apparel and accessories company. Fifth Sun is a Chico, Calif.-based supplier of licensed, non-licensed and private label apparel.

Charter Next joins calendar

Charter Next Generation emerged with plans to hold a lender call at 1 p.m. ET on Monday to launch a $1.836 billion first-lien term loan due December 2027, a market source said.

Jefferies LLC and KKR Capital Markets are leading the deal that will be used to reprice an existing $1.596 billion first-lien term loan and an existing fungible $240 million incremental first-lien term loan.

Charter Next Generation is a Milton, Wis.-based producer of specialty films used in flexible packaging, industrial, health care, and consumer applications.

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