SiteOne Landscape increases term loan size to $298.6 million

By Sara Rosenberg

New York, Nov. 22 – SiteOne Landscape Supply Inc. upsized its term loan due April 29, 2022 to $298,625,000 from $273,625,000, according to a market source.

Pricing on the term loan remained at Libor plus 450 basis points with a 1% Libor floor and a par issue price.

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

UBS Investment Bank is the bookrunner on the deal.

Proceeds will be used to reprice an existing term loan from Libor plus 525 bps with a 1% Libor floor and, due to the upsizing, to repay ABL borrowings, the source said.

Clayton Dubilier & Rice is the sponsor.

SiteOne is a Roswell, Ga.-based distributor of wholesale irrigation, landscape lighting, nursery, hardscapes, maintenance products and supplies for the green industry.

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