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Bob’s Discount flexes $256.7 million term loan to Libor plus 525 bps
By Sara Rosenberg
New York, June 12 – Bob’s Discount Furniture LLC increased pricing on its $256.7 million term loan B (B2/B) due Aug. 12, 2023 to Libor plus 525 basis points from Libor plus 500 bps, according to a market source.
Also, the amendment fee/original issue discount on the term loan was changed to 50 bps/99.5 from 25 bps/99.75, the source said.
The term loan has a 1% Libor floor and 101 soft call protection for one year.
RBC Capital Markets is the left lead arranger on the deal.
Proceeds will be used to extend an existing term loan B due February 2021 and bump up pricing from Libor plus 475 bps with a 1% Libor floor.
Bain Capital is the sponsor.
Bob’s is a Manchester, Conn.-based retailer of furniture and bedding.
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