Sports Authority Said to Set Rate on $630 Million Term Loan
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Sports Authority Inc., the sporting-goods retailer controller by Leonard Green & Partners, set the interest rate it will pay on a $630 million term loan B it’s seeking to refinance debt, according to a person with knowledge of the transaction.
The seven-year loan will pay interest at 5.5 percentage points to 6 percentage points more than the London interbank offered rate, said the person, who asked not to be identified because the information is private. Libor, a rate banks say they can borrow in dollars from each other, will have a 1.25 percent floor.