September primary calendar building as Hardware Holdings emerges with new loan plans

By Sara Rosenberg

New York, Aug. 29 – Hardware Holdings LLC came out with plans to bring a new deal to the primary market right after the Labor Day holiday weekend, joining previously announced September deals for PGT Inc. and Aristocrat Leisure Ltd.

Hardware Holdings joined the near-term calendar, setting a bank meeting for Wednesday to launch a $155 million seven-year term loan B, according to a market source.

Barclays is leading the deal that will be used to fund the acquisition of Jones Stephens and to refinance existing debt.

Senior secured and total leverage is 5.7 times, the source remarked.

The borrowers on the loan are HBC Holding LLC, Handy Holdings LLC and Plumbing Holdings Corp.

Another deal coming soon is PGT, with its bank meeting set for 10 a.m. ET in New York on Thursday.

As previously reported, the company is launching a $235 million credit facility split between a $35 million five-year revolver and a $200 million seven-year term loan B.

Deutsche Bank Securities Inc. and KeyBanc Capital Markets Inc. are leading the deal that will be used with cash on hand to fund the acquisition of CGI Windows & Doors Holdings Inc. for roughly $111 million from Cortec Group Fund IV LP, to refinance existing debt, and for working capital and general corporate purposes.

Closing is expected in September, subject to customary conditions.

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