Camping World to issue $300M add-on term loan; lender call today

Camping World Inc. is in the market with a $300 million fungible add-on term loan B via lead arrangers Goldman Sachs and J.P. Morgan, according to sources. A lender call is scheduled for today at noon ET.

Proceeds from the deal will be used to fund the acquisition and development of RV dealerships and service centers.

In May, Camping World issued its existing $1.1 billion covenant-lite TLB due June 2028 at L+250 with a 0.75% Libor floor. Goldman Sachs is administrative agent on the loan. In addition, the refinancing transaction includes a $65 million revolver due 2026.

Existing facility ratings are BB-/Ba3, with a 2 recovery rating from S&P Global Ratings, and corporate ratings are B+/Ba3, with stable outlooks.

Camping World, based in Lincolnshire, Ill., is a retailer of RVs and related products and services with more than 185 locations in 40 states.