NXT Capital launches $75 million add-on term loan at par issue price

By Sara Rosenberg

New York, March 28 – NXT Capital Inc. launched on Tuesday its $75 million add-on term loan B due November 2022 with issue price talk of par, according to a market source.

Pricing on the add-on loan is Libor plus 450 basis points with a 1% Libor floor, in line with existing term loan B pricing.

The term loan B debt has 101 soft call protection that expires in November.

RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are the joint bookrunners on the deal.

Proceeds will be used to fund a dividend.

With this transaction, the company is looking to amend its existing credit agreement to allow for the one-time dividend and make some other minor changes.

Commitments/consents are due on April 4.

NXT is a Chicago-based provider of structured financing solutions.

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