Restoration Hardware lifts term loan B to $2 billion, changes pricing

By Sara Rosenberg

New York, Oct. 15 – Restoration Hardware Inc. upsized its seven-year term loan B to $2 billion from $1.5 billion and revised price talk to a range of Libor plus 225 basis points to 250 bps from Libor plus 275 bps, before firming at Libor plus 250 bps, according to a market source.

The term loan still has a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

BofA Securities Inc. is the left lead on the deal.

Recommitments were scheduled to be due at noon ET on Friday, the source added.

Proceeds will be used to refinance convertible notes and for general corporate purposes.

Restoration Hardware, which does business as RH, is a Corte Madera, Calif.-based upscale home furnishings company.

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