NorthStar launches $200 million incremental term loan at 99-99.5 OID

By Sara Rosenberg

New York, Sept. 21 – NorthStar Group Services Inc. launched on Tuesday its fungible $200 million incremental term loan due November 2026 with original issue discount talk of 99 to 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 550 basis points with a 1% Libor floor, in line with existing term loan pricing.

Macquarie Capital (USA) Inc. is the lead on the deal.

Commitments are due on Sept. 30, the source added.

Proceeds will be used to fund a recapitalization that will include new third-party equity.

NorthStar is a New York-based provider of specialized environmental and technical services to government and commercial facility owners in need of operational, decommissioning and remediation services.

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