Miller’s Ale launches $250 million loan at Libor plus 450-475 bps

By Sara Rosenberg

New York, May 8 – Miller’s Ale House Inc. launched on Tuesday its $250 million seven-year first-lien term loan with price talk of Libor plus 450 basis points to 475 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $285 million of credit facilities also include a $35 million revolver.

Jefferies LLC, Barclays and KeyBanc Capital Markets are the arrangers on the deal.

Commitments are due on May 21, the source added.

Proceeds will be used to refinance existing debt.

Miller’s Ale House is an Orlando, Fla.-based restaurant and sports bar chain.

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