Innovative XCessories launches $600.1 million term loan repricing

By Sara Rosenberg

New York, Jan. 19 – Innovative XCessories & Services LLC (IXS Holding Inc.) held a lender call at 1:30 p.m. ET on Tuesday to launch a $600.1 million first-lien term loan due March 2027 that is talked at Libor plus 450 basis points with 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 is the lead left arranger on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 500 bps with a 1% Libor floor.

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

Innovative XCessories is a Windsor, Ont.-based provider of coating solutions and vehicle upfit services to the automotive aftermarket and diversified industrial end markets.

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