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RugsUSA readies launch of $500 million term loan B for Thursday
By Sara Rosenberg
New York, Sept. 22 – RugsUSA (Runner Buyer Inc.) will hold a lender call at 2 p.m. ET on Thursday to launch a $500 million seven-year senior secured term loan B (B), according to a market source.
Barclays, Jefferies LLC, Deutsche Bank Securities Inc. and Stifel are the joint bookrunners on the deal. Barclays is the administrative agent.
The term loan has 101 soft call protection for six months, the source said.
Proceeds will be used to help fund the buyout of the company by Francisco Partners from Comvest Partners.
Closing is expected this year.
Koorosh Yaraghi, founder of RugsUSA, and Comvest Partners will retain a minority stake in the company.
RugsUSA is an e-commerce provider of area rugs and home decor products.
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