Credit Suisse First Boston and UBS launched a repricing last week for Harbor Freight Tools' $440 million "B" loan. The repricing will take the spread down by 50 basis points to LIBOR plus 2 1/4%, bankers said. The term loan was put in place over the summer as part of a $490 million recap (LMW, 6/28). During syndication the "B" loan was flexed down 25 bps to LIBOR plus 2 3/4% (7/19). Harbor Freight Tools is the trade name for tool and equipment catalog retailer Central Purchasing. Bob Glickman, Central Purchasing's cfo, did not return calls. CSFB and UBS bankers declined comment.
Harbor Freight Repricing Launches