AmaWaterways launches $525 million term loan at SOFR plus 375-400 bps

By Sara Rosenberg

New York, April 2 – AmaWaterways held a lender call at 2 p.m. ET on Tuesday to launch a $525 million seven-year term loan B (B2/B) that is talked at SOFR plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99, according to a market source.

The term loan has 25 bps step-downs at 4.5x and 4x first-lien net leverage, a 25 bps step-down upon an initial public offering, and 101 soft call protection for six months, the source said.

JPMorgan Chase Bank is the left lead arranger on the deal.

Proceeds will be used to help fund the buyout of the company by L Catterton from a consortium of investors led by Certares.

AmaWaterways is a Calabasas, Calif.-based luxury river cruise line.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.