Conair launches $1.17 billion term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, May 5 – Conair Corp. launched on Wednesday its $1.165 billion seven-year senior secured first-lien term loan (B1/B) with price talk of Libor plus 375 basis points to 400 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

BofA Securities Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, Barclays, Jefferies LLC and Stifel are the leads on the deal.

Commitments are due at noon ET on May 13, the source said.

Proceeds will be used with a $430 million privately placed second-lien term loan and equity to fund the buyout of the company by American Securities LLC.

Conair is a Stamford, Conn.-based designer, manufacturer, and marketer of personal care and small kitchen appliances, cookware, hair brushes & accessories, cosmetic bags, and travel accessories.

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