Mavis Tire Express gets $125 million incremental term loan

By Sara Rosenberg

New York, May 24 – Mavis Tire Express Services TopCo Corp. obtained a fungible $125 million incremental first-lien term loan (B-), according to a market source.

Golub acted as the lead on the deal that has already been funded.

Pricing on the incremental term loan is SOFR+CSA plus 400 basis points with a 0.75% floor. CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Proceeds are being used to fund the acquisition of NTB Tire and Service Centers and Tire Kingdom Service Centers from TBC Corp., and for general corporate purposes.

Mavis is a Millwood, N.Y.-based tire and service retailer.

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