Janus International trims incremental term loan size to $106 million

By Sara Rosenberg

New York, Aug. 6 – Janus International Group downsized its incremental first-lien term loan to $106 million from $180 million, according to a market source.

Pricing on the incremental term loan remained at Libor plus 375 basis points with a 0% Libor floor and an original issue discount of 99.

UBS Investment Bank and Morgan Stanley Senior Funding Inc. are the leads on the deal.

Commitments are due at noon ET on Wednesday, the source said.

Proceeds will be used to repay an existing second-lien term loan and pay fees and expenses. A planned $75 million dividend was removed from the transaction, the source added.

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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