Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Venga Finance LLC > News item |
Marlink Group lifts term loan to $80 million, finalizes OID at 98
By Sara Rosenberg
New York, Dec. 12 – Marlink Group (Venga Finance) upsized its fungible incremental first-lien term loan B due June 29, 2029 to $80 million from $50 million and set the original issue discount at 98, the tight end of the 97.75 to 98 talk, 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.
Proceeds will be used to repay revolving credit facility borrowings, for general corporate purposes 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.