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Floor & Decor launches $350 million term loan at Libor plus 350 bps
By Sara Rosenberg
New York, March 21 – Floor & Decor Outlets of America Inc. launched on Tuesday its $350 million first-lien term loan due September 2024 with price talk of Libor plus 350 basis points with a 1% Libor floor and a par issue price, according to a market source.
The term loan includes 101 soft call protection for six months, the source said.
UBS Investment Bank is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 425 bps with a 1% Libor floor.
Commitments are due on March 28, the source added.
Floor & Decor is an Atlanta-based specialty retailer in the hard surface flooring market.
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