Asplundh Tree Expert sets Thursday lender call for $1 billion incremental term loan due 2031

By Paul A. Harris

Portland, Ore., April 24 – Asplundh Tree Expert, LLC plans to launch a $1 billion incremental first-lien term loan B due 2031 on a lender call scheduled to begin at 11 a.m. ET on Thursday, according to a market source.

Price talk is SOFR plus 175 basis points to 200 basis points with no floor and an original issue discount of 99.5.

The loan comes with six months of soft call protection at 101.

Wells Fargo is the left arranger. BofA, PNC, Citizens and JPMorgan are lead arrangers.

The vegetation management services provider plans to use the proceeds to support an acquisition, as well as to pay down its revolver, to add cash to its balance sheet, to fund potential acquisitions in the pipeline, and for general corporate purposes.

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