Bass Pro Shops launches $825 million term B at Libor plus 325-350 bps

By Sara Rosenberg

New York, May 25 - Bass Pro Shops launched its $825 million term loan B (BB-) on Wednesday with price talk of Libor plus 325 basis points to 350 bps with a 1% to 1.25% Libor floor and an original issue discount of 991/2, according to a market source.

Bank of America Merrill Lynch and J.P. Morgan Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance an existing term loan, redeem preferred stock and common units and fund a dividend.

The existing term loan was obtained early last year at pricing of Libor plus 350 bps with a 1.5% Libor floor and was sold at an original issue discount of 99.

Bass Pro Shops is a Springfield, Mo.-based outdoor retailer.

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