Legence lifts incremental term loan to $155 million, changes OID talk

By Sara Rosenberg

New York, July 26 – Legence Holdings LLC upsized its fungible incremental first-lien term loan due Dec. 16, 2027 to $155 million from $125 million and revised the original issue discount talk to a range of 99.03 to 99.25 from just 99.03, according to a market source.

Pricing on the incremental term loan is SOFR+10 basis points CSA plus 375 bps with a 0.75% floor, in line with existing term loan pricing.

Jefferies LLC, Societe Generale, BMO Capital Markets, MUFG and Blackstone are the arrangers on the deal.

Commitments are due at 10:30 a.m. ET on Thursday, accelerated from 5 p.m. ET on Thursday, the source added.

Proceeds will be used for general corporate purposes, including to fund future acquisitions.

Legence, formerly Therma Holdings LLC and a Blackstone portfolio company, is a San Jose, Calif.-based specialty mechanical, electrical and plumbing services provider focused on serving mission-critical facilities with a high cost of failure.

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