Floor & Decor firms $65 million incremental term loan at 99.75 OID

By Sara Rosenberg

New York, Feb. 5 – Floor & Decor Holdings Inc. finalized the original issue discount on its fungible $65 million incremental first-lien term loan (Ba2/BB) at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 200 basis points with a 0% Libor floor, in line with pricing on the company’s existing $143.2 million term loan.

The incremental and existing term loan are getting 101 soft call protection for six months.

Golub Capital is the lead arranger and bookrunner on the deal.

Proceeds will be used with cash from the balance sheet to refinance the company’s existing non-fungible $74.6 million first-lien term loan priced at Libor plus 400 bps with a 1% Libor floor.

Floor & Decor is an Atlanta-based specialty retailer in the hard surface flooring market.

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