Augusta Sportswear shops $340 million term loan at SOFR plus 600 bps

By Sara Rosenberg

New York, Nov. 3 – Augusta Sportswear Brands is talking its $340 million six-year covenant-lite term loan at SOFR plus 600 basis points with a 1% floor and an original issue discount of 98, according to a market source.

The term loan has hard call protection of 102 in year one and 101 in year two.

The company’s $390 million of senior secured credit facilities also includes a $50 million revolver.

Included in the term loan is a springing covenant trigger at 45% drawn on the revolver, the source said.

Antares Capital LP is the lead on the deal.

Commitments are due on Nov. 16, the source added.

Proceeds will be used to support the buyout of the company by Platinum Equity.

Augusta Sportswear is a Grovetown, Ga.-based supplier of team uniforms and off-field performance wear primarily serving youth and recreational segments.

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