Big Ass Solutions accelerates timing for USD 250m TLB

01 July 2022 - 02:22 pm UTC

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

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Big Ass Solutions accelerates timing for USD 250m TLB