American Trailer launches $475 million add-on loan at 98.5-99 OID

By Sara Rosenberg

New York, July 8 – American Trailer World Corp. launched on Thursday its fungible $475 million add-on first-lien term loan (B) due March 5, 2028 with original issue discount talk of 98.5 to 99, according to a market source.

Pricing on the add-on term loan is Libor plus 375 basis points with a 25 bps step-down upon 3.6x total net leverage and a 0.75% Libor floor, in line with existing term loan pricing.

The add-on term loan and the existing term loan are getting 101 soft call protection for six months, the source said.

Amortization on the add-on term loan is 1% per annum.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due at noon ET on July 15, the source added.

Proceeds will be used to fund a distribution to shareholders.

Bain Capital Private Equity is the sponsor.

American Trailer World is Richardson, Tex.-based manufacturer and distributor of professional grade trailers, consumer grade trailers, truck equipment and retail parts.

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