Virgin Pulse launches first- and second-lien loans at 99.25-99.5 OID

By Sara Rosenberg

New York, Oct. 7 – Virgin Pulse held a lender call on Thursday to launch a $35 million add-on first-lien term loan and a $15 million add-on second-lien term loan, both talked with an original issue discount of 99.25 to 99.5, according to a market source.

Pricing on the add-on first-lien term loan is Libor plus 400 basis points with a 0.75% Libor floor and pricing on the add-on second-lien term loan is Libor plus 725 bps with a 0.75% Libor floor.

KKR Capital Markets and JPMorgan Chase Bank are the leads on the deal, with KKR the left lead on the first-lien loan and JPMorgan the left lead on the second-lien loan.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to fund an acquisition.

Virgin Pulse is a Providence, R.I.-based digital health, wellbeing and engagement company.

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