Big Ass Solutions accelerates timing for USD 250m TLB - Debtwire

Big Ass Solutions accelerates timing for USD 250m TLB

30 October 2017 - 12:00 am

Big Ass Solutions accelerated the commitment deadline for its USD 250m TLB, according to a source close to the situation. Proceeds finance the company’s buyout by Lindsay Goldberg.

 

UPDATE:

  • Commitments now due on Friday (3 November) at 5pm ET, from 8 November before

 

TERMS:

  • Led by Credit Suisse, with SunTrust on the right
  • Borrower: Big Ass Fans LLC
  • USD 250m TLB due 2024 with six-month 101 soft call provision
  • Libor+ 475bps-500bps (1% floor) with a 99.5 OID
  • Covenant-lite
  • USD 40m revolver
  • Proceeds finance LBO by Lindsay Goldberg
  • Sector: manufacturing
  • Business description: producer of high volume, low speed industrial-sized fans
  • Ratings: B2/B corporate, B2/B facility
  • Financial Sponsor: Lindsay Goldberg
  • Commitments due on Friday (3 November) at 5pm ET