Bob's Discount Furniture to launch $300 million facility on Tuesday

By Sara Rosenberg

New York, Jan. 15 - Bob's Discount Furniture Inc. is set to hold a bank meeting at 1 p.m. ET on Tuesday to launch a $300 million senior secured credit facility, according to a market source.

RBC Capital Markets and UBS Securities LLC are the joint lead arrangers and joint bookrunners on the deal.

The facility consists of a $40 million asset-based revolver, a $180 million first-lien term loan and an $80 million second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Bain Capital.

As part of the transaction, management will continue to own a significant stake in the company.

Closing is expected this quarter.

Bob's is a Manchester, Conn.-based retailer of furniture and bedding.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.