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ABRA Auto Body launches $352 million term B at Libor plus 300-325 bps
By Sara Rosenberg
New York, June 14 – ABRA Auto Body & Glass launched on Wednesday its $352 million first-lien term loan B with price talk of Libor plus 300 basis points to 325 bps 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.
Bank of America Merrill Lynch is the left lead bookrunner on the deal.
Commitments are due at noon ET on July 21, the source added.
Proceeds will be used to reprice an existing term loan.
ABRA is a Brooklyn Park, Minn.-based provider of vehicle damage repair services.
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