Power Stop to launch $435 million credit facilities on Thursday

By Sara Rosenberg

New York, Jan. 4 – Power Stop LLC will hold a bank meeting at 11 a.m. ET on Thursday to launch $435 million of credit facilities, according to a market source.

Jefferies LLC and Antares Capital are the lead arrangers on the deal.

The facilities consist of a $40 million five-year revolver and a $395 million seven-year first-lien term loan, the source said.

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

Commitments are due at 4 p.m. ET on Jan. 20, the source added.

Proceeds will be used to refinance existing debt and fund a distribution to shareholders.

Power Stop is a manufacturer of aftermarket automotive brake kits.

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