Marlink launches $50 million incremental term loan at 97.75-98 OID

By Sara Rosenberg

New York, Dec. 7 – Marlink Group (Venga Finance) launched a fungible $50 million incremental first-lien term loan B due June 29, 2029 that is talked with an original issue discount of 97.75 to 98, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 475 basis points with a 0.75% floor, in line with existing term loan pricing.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

BofA Securities Inc. and KKR Capital Markets are the global coordinators on the deal.

Commitments are due at noon ET on Tuesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and to pay transaction fees and expenses.

Marlink is a provider of end-to-end managed smart network and IT services solutions to maritime, enterprise and government customers in remote places.

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