Precisely launches $230 million of add-on term loans to investors

By Sara Rosenberg

New York, Jan. 19 – Precisely held a lender call at noon ET on Wednesday to launch $230 million of add-on term loans, according to a market source.

The debt is split between a fungible $200 million add-on first-lien term loan due April 2028 that is talked with an original issue discount of 99.5 to 99.75 and a fungible $30 million add-on second-lien term loan due April 2029 that is talked with a discount of 99.75 to par, the source said.

Pricing on the add-on first-lien term loan is Libor plus 400 basis points with a 0.75% Libor floor, and pricing on the add-on second-lien term loan is Libor plus 725 bps with a 0.75% Libor floor.

The add-on first-lien term loan has 101 soft call protection until April, and the add-on second-lien term loan has 102 hard call protection until April and then 101 for a year.

JPMorgan Chase Bank is the left lead on the deal. Barclays is the agent on the second-lien loan and a joint bookrunner. Golub Capital is a joint lead arranger.

Commitments are due at 5 p.m. ET on Monday, the source added.

Proceeds will be used to fund the acquisition of PlaceIQ, a New York-based data and technology provider, and to repay revolving credit facility borrowings.

Precisely is a provider of data integrity software.

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