Sharp Services firms $150 million term loan at par issue price

By Sara Rosenberg

New York, Feb. 7 – Sharp Services LLC set the issue price on its fungible $150 million add-on first-lien term loan due December 2028 (B3) at par, the tight end of revised talk of 99.75 to par and tighter than initial talk of 99.03, according to a market source.

Pricing on the add-on term loan is SOFR+10 basis points CSA plus 400 bps with a 0.5% floor.

JPMorgan Chase Bank and RBC Capital Markets are co-leads on the deal.

Proceeds will be used with cash on hand to refinance an existing $157.5 million privately placed second-lien term loan.

Sharp Services is a provider of pharmaceutical packaging and clinical services.

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