Driven Brands Holdings Inc. is in market today with a $500 million term loan B due 2028 that will be used for general corporate purposes, including to fund future acquisitions, according to sources. Commitments to the J.P. Morgan-led deal are due by 5 p.m. ET on Nov. 17.

Price talk for the seven-year TLB is L+325, with a 0.5% Libor floor and an original issue discount in the range of 99-99.5. That works out to a yield to maturity of 3.89%-3.98%. Lenders are offered six months of 101 soft call protection.

Facility ratings are BB-/B2, with a 2 recovery rating from S&P Global Ratings, and corporate ratings are B+/B2, with stable outlooks. Driven Holdings LLC is the borrower.

Driven Brands is a consumer and commercial automotive services company providing paint, collision, glass, vehicle repair, oil change, maintenance and car wash services. The company has more than 4,300 locations across 15 countries.