Floor & Decor launches $144.6 million term loan at Libor plus 225 bps

By Sara Rosenberg

New York, Feb. 3 – Floor & Decor launched on Monday its $144.6 million seven-year first-lien term loan with price talk of Libor plus 225 basis points with a step-up to Libor plus 250 bps at 2x leverage, a 1% Libor floor and an original issue discount of 99.75, according to a market source.

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

UBS Investment Bank, BofA Securities Inc. and Wells Fargo Securities LLC are the lead banks on the deal.

Commitments are due on Feb. 12, the source added.

Proceeds will be used to amend and extend an existing term loan.

Floor & Decor is an Atlanta-based specialty retailer in the hard surface flooring market.

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