Restoration Hardware talks $1.5 billion term B at Libor plus 275 bps

By Sara Rosenberg

New York, Sept. 30 – Restoration Hardware Inc. launched on Thursday its $1.5 billion seven-year term loan B (Ba2/BB) with price talk of Libor plus 275 basis points with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

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

BofA Securities Inc. is the left lead on the deal.

Commitments are due at 5 p.m. ET on Oct. 14, the source added.

Proceeds will be used to refinance convertible notes and for general corporate purposes.

Restoration Hardware, which does business as RH, is a Corte Madera, Calif.-based upscale home furnishings company.

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