Power Stop launches $395 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, Jan. 6 – Power Stop LLC launched on Thursday its $395 million seven-year first-lien term loan with price talk of Libor plus 475 basis points with a 0.5% Libor floor and an original issue discount of 99, according to a market source.

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

The company’s $435 million of credit facilities also include a $40 million five-year revolver.

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

Commitments are due at 4 p.m. ET on Jan. 20.

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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