NorthStar launches $710 million term loan at SOFR plus 525 bps

By Sara Rosenberg

New York, Nov. 9 – NorthStar Group Services Inc. launched on Thursday its $710 million five-year covenant-lite first-lien term loan (B2/B+) with price talk of SOFR plus 525 basis points with a 0% floor and an original issue discount of 97.5 to 98, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $835 million of credit facilities also include a $125 million four-year ABL revolver.

Macquarie Capital (USA) Inc. is the sole arranger and bookrunner on the deal.

Commitments are due at 5 p.m. ET on Nov. 20.

Proceeds will be used to refinance the company’s existing credit facilities.

NorthStar, a J.F. Lehman & Co. portfolio company, is a New York-based provider of diversified infrastructure and environmental services across its four segment markets: Commercial & Industrial Deconstruction, Nuclear Services, Environment Services, and Response & Restoration.

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