Royal Oak Enterprises to launch $390 million term loan B on Tuesday

By Sara Rosenberg

New York, June 21 – Royal Oak Enterprises (Ozark Holdings LLC) will hold a lender call at 11 a.m. ET on Tuesday to launch a $390 million first-lien term loan B due Dec. 16, 2027, according to a market source.

Barclays is the bookrunner on the deal and the administrative agent.

Price talk on the term loan is Libor plus 375 basis points with a 0.5% Libor floor and a par issue price, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at noon ET on June 29, the source added.

Proceeds will be used to reprice an existing term loan B down from Libor plus 400 bps with a 0.75% Libor floor.

Royal Oak is a Roswell, Ga.-based manufacturer and distributor of fire building products and other consumable products.

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