BGIS shops amendment to change term loan borrowings to SOFR

By Sara Rosenberg

New York, March 22 – BGIS (Brookfield Global Integrated Solutions) is seeking a negative consent amendment to transition its term loan debt to SOFR from Libor and add CSA, according to a market source.

The CSA would be ARCC standard of 11.448 basis points one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Citigroup Global Markets Inc. is the lead on the deal.

The amendment deadline is March 29, the source added.

BGIS is an integrated facilities management company.

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