Dealer Tire seeks $604 million term loan B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Oct. 14 – Dealer Tire LLC launched a repricing of its $604 million term loan B at talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and a par issue price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal.

The repricing will take the term loan B down from Libor plus 450 bps with a 1% Libor floor.

Commitments are due on Oct. 20, the source added.

Dealer Tire is a Cleveland-based distributor of replacement tires and parts for automotive OEMs and their dealers.

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