Topgolf lifts term B to $350 million, flexes to Libor plus 550 bps

By Sara Rosenberg

New York, Feb. 6 – Topgolf International Inc. upsized its term loan B to $350 million from $325 million and reduced pricing to Libor plus 550 basis points from talk in the range of Libor plus 575 bps to 600 bps, according to a market source.

Also, the original issue discount on the term loan was revised to 99 from 98, the source said.

The term loan still has a 0% Libor floor and 101 soft call protection for one year.

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

Proceeds will be used to refinance existing debt.

Topgolf is a Dallas-based sports entertainment company.

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