Buyers Edge lifts term B to $560 million, flexes to SOFR plus 375 bps

By Sara Rosenberg

New York, April 12 – Buyers Edge Platform upsized its seven-year term loan B (B1/B) to $560 million from $550 million, according to a market source.

Also, pricing on the term loan was reduced to SOFR plus 375 basis points from SOFR plus 400 bps and the original issue discount firmed at 99.5, the tight end of the 99 to 99.5 talk, the source said.

As before, the term loan has a 0% floor and 101 soft call protection for six months.

JPMorgan Chase Bank, BofA Securities Inc., Truist Securities, Wells Fargo Securities LLC and GA Credit are the leads on the deal.

Proceeds will be used to refinance existing debt, fund a distribution and add cash to the balance sheet.

Buyers Edge is a Waltham, Mass.-based provider of procurement, supply chain management and software services to foodservice operators.

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