Rough Country launches $401.2 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, Oct. 7 – Rough Country launched on Wednesday a $401.2 million first-lien term loan (B) due May 25, 2025 that is talked at Libor plus 375 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.

Golub Capital is lead on the transaction.

Commitments are due on Oct. 19, the source added.

Of the total term loan amount, $180 million is incremental debt that will be used to help fund a dividend to shareholders and $221.2 million is an existing term loan that is being extended by two years.

Rough Country is a Dyersburg, Tenn.-based supplier of aftermarket suspension lift kits and components to the off-road SUV and light truck enthusiast market.

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