Floor & Decor flexes $144.6 million term loan to Libor plus 200 bps

By Sara Rosenberg

New York, Feb. 11 – Floor & Decor reduced pricing on its $144.6 million seven-year first-lien term loan to Libor plus 200 basis points with a step-up to Libor plus 225 bps when leverage is greater than 2x from Libor plus 225 bps with a step-up to Libor plus 250 bps at 2x leverage, according to a market source.

The term loan still has a 1% Libor floor, an original issue discount of 99.75 and 101 soft call protection for six months.

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

Recommitments were scheduled to be due at 5 p.m. ET on Tuesday, the source said.

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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