Truck Hero to launch $390 million term loan B on Tuesday

By Sara Rosenberg

New York, Oct. 23 – Truck Hero Inc. is scheduled to hold a bank meeting on Tuesday to launch a $390 million seven-year term loan B, according to a market source.

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

Price talk on the term loan is Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99, the source said.

The loan has 101 soft call protection for six months.

Proceeds will be used to help refinance the company’s existing first- and second-lien credit facility.

The refinancing is being done in connection with an initial public offering of common stock.

Truck Hero is an Ann Arbor, Mich.-based designer, manufacturer and marketer of branded consumer accessories for pickup trucks.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.