Snap One privately places $55 million incremental term loan B

By Sara Rosenberg

New York, Oct. 7 – Snap One Holdings Corp. privately placed with one account a non-fungible $55 million three-year incremental covenant-lite term loan B priced at SOFR plus 675 basis points with a 0.5% floor, according to a market source.

The incremental term loan has 101 soft call protection for one year and amortization of 1% per annum, the source said.

Morgan Stanley Senior Funding Inc. is the sole bookrunner on the deal and the administrative agent.

Proceeds will be used for general corporate purposes.

Snap One is a Charlotte, N.C.-based provider of a suite of products, services and software to professional do-it-for-me integrators.

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