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Liquid Tech launches $300 million term loan at Libor plus 475 bps
By Sara Rosenberg
New York, Feb. 25 – Liquid Tech Solutions LLC launched on Thursday its $300 million covenant-lite first-lien term loan with price talk of Libor plus 475 basis points with a 0.75% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Citizens, Credit Suisse Securities (USA) LLC and BNP Paribas Securities Corp. are the lead arrangers on the deal.
Commitments are due on March 11, the source added.
Proceeds will be used to refinance existing debt.
Lindsay Goldberg is the sponsor.
Liquid Tech is a tech-enabled provider of route-based, on-site mobile refueling solutions.
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