Thor Industries updates price talk on U.S. and euro term loans

By Sara Rosenberg

New York, March 18 – Thor Industries Inc. revised price talk on its $942 million term loan (BB+) to a range of Libor plus 275 basis points to 300 bps from a range of Libor plus 300 bps to 325 bps, according to a market source.

In addition, pricing on the company’s €503 million term loan (BB+) was lowered to Euribor plus 300 bps from talk in the range of Euribor plus 325 bps to 350 bps.

Also, the issue price on both term loans firmed at par, the tight end of the 99.875 to par talk, the source said.

The term loans still have a 0% floor.

JPMorgan Chase Bank is the left lead on the deal.

Recommitments are due at noon ET on Friday, the source added.

Proceeds will be used to reprice existing U.S. and euro term loans.

Thor Industries is an Elkhart, Ind.-based manufacturer of recreational vehicles.

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