RV Retailer finalizes $180 million of term loans at 99.25 OID

By Sara Rosenberg

New York, July 30 – RV Retailer set the original issue discount on its fungible $140 million incremental term loan (B+) due February 2028 and $40 million delayed-draw term loan (B2/B+) due February 2028 at 99.25, the tight end of the 99 to 99.25 talk, 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 and administrative agent on the deal.

Proceeds will be used to fund near-term acquisitions, to add cash to balance sheet for future acquisitions and for general corporate purposes.

Closing is expected during the week of Aug. 23.

RV Retailer is a recreational vehicle retail company.

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