RV Retailer talks new loan, repricing at SOFR plus 350-375 bps

By Sara Rosenberg

New York, Jan. 6 – RV Retailer launched on Thursday its fungible $200 million incremental term loan B due February 2028 and repricing of its existing $596 million term loan B due February 2028 with price talk of SOFR plus CSA plus 350 basis points to 375 bps with a 0.75% floor, according to a market source.

The incremental term loan is talked with an original issue discount of 99.5 and the repricing is offered at par, the source said.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, the source said.

The term loan debt (B1/BB-) has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA is the lead arranger on the deal.

Commitments and consents are due at noon ET on Jan. 13, the source added.

Proceeds from the incremental term loan will be used to fund the company’s near-term acquisition pipeline and the repricing will change pricing on the existing term loan from Libor plus 400 bps with a 0.75% Libor floor.

Redwood Capital is the sponsor.

RV Retailer is a recreational vehicle retail company.

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