System One launches $30 million add-on term loan B at 99.75 OID

By Sara Rosenberg

New York, May 25 – System One Holdings LLC launched on Tuesday its $30 million add-on term loan B with original issue discount talk of 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 450 basis points with a 0.75% Libor floor.

The add-on term loan has 101 soft call protection through Sept. 2.

Truist Securities is the lead on the deal.

Commitments are due on June 3, the source added.

Proceeds will be used for acquisition financing.

System One is a Pittsburgh-based provider of specialized workforce solutions and integrated services.

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