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PlayPower refinances $400m debt into private credit

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News and Analysis

PlayPower refinances $400m debt into private credit

Shubham Saharan's avatar
  1. Shubham Saharan
•1 min read

PlayPower has refinanced about $400m in debt with private credit lenders, according to 9fin sources.

Lenders to the company include HPS, sources said. Pricing on the loan is in the range of SOFR+500bps, one source added. PlayPower was previously financed in the broadly syndicated loan market.

In September, Moody’s said in a note that ratings for the company had been withdrawn following payment of its rated senior secured debt. PlayPower’s first lien credit facilities had been rated Caa1 by the agency.

PlayPower is a manufacturer of commercial playground and recreational equipment. Littlejohn & Co. acquired the company from Apollo in 2015, per a firm release.

Littlejohn declined to comment. PlayPower and HPS did not respond to requests for comment.

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