Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for UKG Inc. > News item |
UKG finalizes $400 million term loan at SOFR plus 450 bps
By Sara Rosenberg
New York, May 25 – UKG Inc. firmed pricing on its non-fungible $400 million incremental covenant-lite first-lien term loan (B1/B-) due May 2026 at SOFR plus 450 basis points, the low end of the SOFR plus 450 bps to 475 bps talk, according to a market source.
As before, the incremental term loan has 10 bps CSA, a 0.5% floor, an original issue discount of 97.5 and 101 soft call protection for six months.
Nomura, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc., Truist, Wells Fargo Securities LLC and others to be announced are the arrangers on the deal.
Proceeds will be used to pay down a revolving credit facility draw and further bolster liquidity in anticipation of a potential strategic acquisition that is under a letter of intent.
Closing is expected during the week of May 29, the source added.
UKG is a provider of human capital management solutions based in Weston, Fla., and Lowell, Mass.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.