Mister Car Wash launches $290 million term loan at 99.01-99.25 OID

By Sara Rosenberg

New York, Dec. 9 – Mister Car Wash Holdings Inc. was scheduled to hold a lender call at 9:30 a.m. ET on Thursday to launch a $290 million incremental first-lien term loan due May 2026 that is talked at Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99.01 to 99.25, according to a market source.

Jefferies LLC is the lead on the deal.

Commitments are due at 2 p.m. ET on Dec. 14, the source added.

Proceeds will be used with cash on hand to fund the acquisition of Clean Streak Ventures LLC from MKH Capital Partners for about $390 million.

Closing is expected this year, subject to customary conditions.

Mister Car Wash is a Tucson-based car wash operator.

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