Brown Jordan launches $165 million term loan B at Libor plus 500 bps

By Sara Rosenberg

New York, Aug. 3 – Brown Jordan International Inc. launched on Thursday its $165 million term loan B (B2/B) due January 2023 with price talk of Libor plus 500 basis points with a 1% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

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

Commitments are due at noon ET on Wednesday.

Proceeds will be used to reprice an existing term loan down from Libor plus 575 bps with a 1% Libor floor.

Brown Jordan is a St. Augustine, Fla.-based manufacturer of indoor and outdoor furniture.

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