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Rough Country ups term loan to $100 million, firms OID at 99.75
By Sara Rosenberg
New York, Jan. 27 – Rough Country upsized its incremental term loan to $100 million from $85 million and set the original issue discount at 99.75, the midpoint of the 99.5 to par talk, 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.
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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