Janus launches $634.61 million term loan at Libor plus 300 bps

By Sara Rosenberg

New York, Jan. 26 – Janus International Group launched on its call on Tuesday a $634.61 million term loan B-1 due February 2025 that is talked at Libor plus 300 basis points with a 25 bps step-down once its merger and listing becomes effective, a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

UBS Investment Bank, KeyBanc Capital Markets and Stifel are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Monday, the source added.

Proceeds will be used to reprice existing term loan borrowings.

In December, the company announced an agreement to become a public company through a merger with Juniper Industrial Holdings Inc., a publicly listed special purpose acquisition company.

Janus is a Temple, Ga.-based manufacturer of roll-up and swing doors, hallway systems and re-locatable storage units for the self-storage industry.

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