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RV Retailer launches $180 million of term loans at 99-99.25 OID
By Sara Rosenberg
New York, July 21 – RV Retailer launched on Wednesday its fungible $140 million incremental term loan (B+) due February 2028 and $40 million delayed-draw term loan (B+) due February 2028 with original issue discount talk of 99 to 99.25, according to a market source.
Pricing on the term loans is Libor plus 400 basis points with a 0.75% Libor floor, in line with existing term loan pricing.
The incremental term loan has 101 soft call protection through Aug. 8.
Delayed-draw ticking fees are half the spread from days 46 to 90 and the full spread thereafter.
Goldman Sachs Bank USA is the bookrunner on the deal.
Commitments are due on July 29, the source added.
Proceeds will be used to fund near-term acquisitions, to add cash to balance sheet for future acquisitions and for general corporate purposes.
RV Retailer is a recreational vehicle retail company.
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