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Wells Fargo Bank Agents $825MM Credit Facility for Holley

November 24, 2021, 07:03 AM
Filed Under: Automotive

Holley, the largest and fastest growing platform in the enthusiast branded performance automotive aftermarket category, announced the successful refinancing of its 2018 credit facility with a new $825 million credit facility. The new facility is comprised of seven-year $600 million first-lien term loan, a five-year $125 million revolving credit facility, and a $100 million delayed draw term loan. The new term loan priced at LIBOR +375 basis points. Neither the delayed draw term loan nor the revolver were funded at closing.

According to the SEC filing, the new facility is provided by a syndicate of lenders and Wells Fargo Bank as administrative agent for the lenders, letter of credit issuer and swing line lender.

“This transaction represents another milestone for our company,” said Dominic Bardos, Chief Financial Officer of Holley. “The refinancing provides more favorable interest rates than the debt that was replaced, while simultaneously expanding our capacity for future borrowing to support our acquisition strategy. I am pleased with the outcome of this refinancing transaction.”

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