Thor Industries to launch $942 million, €503 million loans Thursday

By Sara Rosenberg

New York, March 10 – Thor Industries Inc. will hold a lender call at 10:30 a.m. ET on Thursday to launch a $942 million term loan (BB+) that is talked at Libor plus 300 basis points to 325 bps with a 0% Libor floor and an original issue discount of 99.875 to par, according to a market source.

The company will also launch a €503 million term loan that is talked at Euribor plus 325 bps to 350 bps with a 0% floor and a discount of 99.875 to par, the source said.

JPMorgan Chase Bank is the left lead on the deal.

Commitments are due at 5 p.m. ET on March 18, the source added.

Proceeds will be used to reprice existing U.S. and euro term loans.

Thor Industries is an Elkhart, Ind.-based manufacturer of recreational vehicles.

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