White Cap Supply Holdings completes $2.3B term loan repricing; terms

White Cap Supply Holdings LLC has completed a repricing of its $2.306 billion covenant-lite term loan B due October 2027 via a Deutsche Bank-led bookrunner group, according to sources. Pricing is now at a spread of 375 basis points over the secured overnight financing rate, with a 0.5% Sofr floor and no credit spread adjustment. The repriced loan was issued at par with the 101 soft call protection reset for six months. Existing pricing on the TLB was L+400, with a 0.50% Libor floor. White Cap, backed by CD&R, distributes concrete accessories and specialty construction and safety products.

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