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Rough Country talks $85 million incremental term loan at 99.5-par OID
By Sara Rosenberg
New York, Jan. 25 – Rough Country launched without a lender call an $85 million incremental term loan that is talked with an original issue discount of 99.5 to par, according to a market source.
Pricing on the incremental term loan is Libor plus 375 basis points with a 1% Libor floor, in line with existing term loan pricing.
Golub Capital is the lead on the transaction.
Commitments are due on Thursday, and allocations are expected on that day as well, the source added.
Proceeds will be used to fund a dividend.
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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