Melissa & Doug launches $325 million credit facilities to investors

By Sara Rosenberg

New York, March 23 – Melissa & Doug (MND Holdings III Corp.) was scheduled to hold a lender call at 1 p.m. ET on Thursday to launch $325 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

The facilities consist of a $65 million revolver and a $260 million first-lien term loan due June 2026.

Price talk on the term loan is SOFR+15 basis points CSA plus 550 bps with a 1% floor and an original issue discount of 95, the source said.

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

Expected credit facilities ratings are B3/B.

Commitments are due at noon ET on March 31, the source added.

Proceeds from the term loan will be used to extend an existing term loan due June 2024 that is priced at SOFR+15 bps CSA plus 350 bps with a 1% floor.

Melissa & Doug is a Wilton, Conn.-based specialty toy brand with an educational focus.

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