Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for First Brands Group LLC > News item |
First Brands to launch $1.97 billion of term loans on Friday
By Sara Rosenberg
New York, March 10 – First Brands Group LLC is scheduled to hold a bank meeting at 11 a.m. ET on Friday to launch $1.965 billion of term loans, according to a market source.
Jefferies LLC is the lead arranger on the deal.
The debt consists of a $1.425 billion six-year senior secured first-lien term loan and a $540 million seven-year second-lien term loan, the source said.
The first-lien term loan has a 1% Libor floor and 101 call protection for one year, and the second-lien term loan has a 1% Libor floor and hard call protection of 103 in year one and 101 in year two.
Proceeds will be used to refinance existing debt.
First Brands is an automotive aftermarket platform offering comprehensive solutions for consumable maintenance and mission-critical repair parts.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.