Truck Hero to launch $190 million first-lien term loan on Tuesday

By Sara Rosenberg

New York, Oct. 20 – Truck Hero Inc. set a lender call for 1 p.m. ET on Tuesday to launch its proposed fungible $190 million add-on first-lien term loan, according to a market source.

Jefferies is the sole lead arranger on the financing.

Proceeds will be used to help fund the acquisition of Omix-ADA Inc.

The company’s existing first-lien term loan is priced at Libor plus 400 basis points with a 1% Libor floor.

Other funds for the transaction will come from a $45 million pre-placed add-on second-lien term loan.

Closing on the acquisition is expected by the end of October.

Truck Hero is an Ann Arbor, Mich.-based provider of truck bed covers and other truck and Jeep accessories. Omix-ADA is a Suwanee, Ga.-based developer and supplier of Jeep and off-road parts, accessories and floor liners.

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