Service Logic withdraws repricing of $662 million of term loans

By Sara Rosenberg

New York, March 30 – Service Logic pulled from market the repricing of its existing $530 million first-lien term loan and its existing $132 million delayed-draw first-lien term loan, according to a market source.

Talk on the term loan debt was Libor plus 350 basis points to 375 bps with a 0.75% Libor floor, a par issue price and 101 soft call protection for six months.

JPMorgan Chase Bank was the lead on the deal.

The repricing would have taken the term loans down from Libor plus 400 bps with a 0.75% Libor floor.

Service Logic is a Charlotte, N.C.-based provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems, and building automation and controls systems.

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