Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Venga Finance Sarl > News item |
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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.