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SELECTED TRANSACTION DETAILS
Bank of America Agents $2B Term Loan Financing for Restoration Hardware
Tuesday, October 26, 2021

Lenders/Participants Bank of America [Administrative Agent, Collateral Agent]
Structure Term Loan
Amount $2.000 Billion
Borrower(s) Restoration Hardware
Description The Term Loan has a maturity date of October 20, 2028 and a floating interest rate based on 2.5% spread over LIBOR subject to a 0.50% LIBOR floor. Proceeds of the Term Loan are expected to be used for general corporate purposes. In addition, a portion of the proceeds are expected to be used to pay the principal amount of RH’s outstanding convertible notes that elect early conversion. As of October 20, 2021, holders of RH’s 0.00% convertible senior notes due 2023 (the “2023 Convertible Notes”) and RH’s 0.00% convertible senior notes due 2024 (the “2024 Convertible Notes”) have elected early conversion settlement with respect to $256 million in principal amount of the 2023 Convertible Notes and $124 million in principal amount of the 2024 Convertible Notes and RH anticipates that such early conversion elections will continue in advance of the maturity of the convertible notes. RH expects to pay holders in cash with respect to the principal amount of convertible notes that elect early conversion.
Industry Retail
Related Tags Bank of America, Restoration Hardware, Retail




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