Floor & Décor lifts term loan to $350 million, tightens pricing

By Sara Rosenberg

New York, Sept. 27 – Floor & Décor Outlets of America Inc. upsized its seven-year first-lien term loan to $350 million from $300 million and lowered pricing to Libor plus 450 basis points from Libor plus 475 bps, according to a market source.

In addition, the original issue discount on the term loan was changed to 99.5 from 99, the source said.

The term loan still has a 1% Libor floor and 101 soft call protection for six months.

Included in the term loan is MFN protection for life, the source added.

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

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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