RV Retailer firms incremental loan, repricing at SOFR plus 375 bps

By Sara Rosenberg

New York, Jan. 13 – RV Retailer finalized pricing on its fungible $200 million incremental term loan B due February 2028 and repricing of its existing $596 million term loan B due February 2028 at SOFR+CSA plus 375 basis points, the high end of the SOFR+CSA plus 350 bps to 375 bps talk, according to a market source.

The term loan debt (B1/BB-) still has a 0.75% floor, CSA of 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, 101 soft call protection for six months and amortization of 1% per annum.

As before, the incremental term loan has an original issue discount of 99.5 and the repricing has a par issue price.

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

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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