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Floor and Decor enters $75 million incremental term loan due 2027
By Wendy Van Sickle
Columbus, Ohio, May 18 – Floor & Decor Holdings, Inc. subsidiary Floor and Decor Outlets of America, Inc. entered into a $75 million incremental term loan under its existing senior secured term loan agreement on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The incremental loan matures on Feb. 14, 2027 and bears interest at Libor plus 400 basis points with a 1% Libor floor.
UBS Investment Bank, BofA Securities, Inc. and Wells Fargo Securities LLC are the joint lead arrangers and bookrunners, with UBS as administrative agent.
The company said it decided to enter into the incremental loan given the “attractive terms” to provide additional flexibility in response to the business environment stemming from the Covid-19 pandemic. Proceeds may be used for general corporate purposes and to support growth plans.
Floor & Decor is an Atlanta-based specialty retailer in the hard surface flooring market.
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