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Sally Beauty brings term loan B repricing to market, seeking 25 bps reduction
By Sara Rosenberg
New York, Sept. 5 – In the primary market on Tuesday, Sally Beauty Holdings Inc. approached lenders with a repricing of its term loan B in an otherwise quiet post-holiday weekend session.
The company emerged in the morning with plans to hold a lender call at 1 p.m. ET on Tuesday to launch a $399 million term loan B due Feb. 28, 2030 talked at SOFR plus 225 basis points with a 0% floor, a par issue price and 101 soft call protection for six months, a market source remarked.
Commitments are due at noon ET on Friday, the source added.
BofA Securities Inc. is the left lead on the deal that will be used to reprice an existing term loan B down from SOFR plus 250 bps with a 0% floor.
The borrowers are Sally Holdings LLC and Sally Capital Inc.
Sally Beauty is a Denton, Tex.-based retailer and distributor of professional beauty supplies.
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