Crash Champions to launch $650 million term loan B on Wednesday

By Sara Rosenberg

New York, Jan. 23 – Crash Champions (Champions Financing Inc.) will hold a lender call at 2 p.m. ET on Wednesday to launch a $650 million five-year senior secured term loan B, according to a market source.

BofA Securities Inc., BMO Capital Markets, JPMorgan Chase Bank, Deutsche Bank Securities Inc. and Truist Securities are the arrangers on the deal.

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

Proceeds will be used with $650 million of senior secured notes and new PIK preferred equity to refinance existing Service King and Crash Champions debt.

Crash Champions is a collision repair platform and a multiple shop operator.

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