Floor & Décor launches $300 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, Sept. 14 – Floor & Décor Outlets of America Inc. launched at its bank meeting on Wednesday a $300 million seven-year first-lien term loan with price talk of Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

UBS Investment Bank, Bank of America Merrill Lynch, Barclays, Goldman Sachs Bank USA and Wells Fargo Securities LLC are the bookrunners on the deal.

Commitments are due on Sept. 28, the source added.

Proceeds will be used to refinance existing debt and pay a dividend.

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

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