Jeld-Wen launches $536 million term loan B at SOFR plus 200 bps

By Sara Rosenberg

New York, Jan. 8 – Jeld-Wen Inc. was set to hold a lender call at 12:30 p.m. ET on Monday to launch a $536.25 million covenant-lite term loan B due July 28, 2028 that is talked at SOFR+CSA plus 200 basis points with a 0% floor and a par issue price, according to a market source.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate, 42.826 bps six-month rate and 71.513 bps 12-month rate.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Wells Fargo Securities LLC is the left lead arranger on the deal.

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

Proceeds will be used to reprice an existing term loan B down from SOFR+ARRC CSA plus 225 bps with a 0% floor.

Jeld-Wen is a Charlotte, N.C.-based manufacturer of doors, windows and related building products.

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