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