HelpSystems seeks $50 million add-on first-lien term loan at 99 OID

By Sara Rosenberg

New York, Dec. 9 – HelpSystems LLC is shopping a fungible $50 million add-on first-lien term loan that is talked with an original issue discount of 99, according to a market source.

Pricing on the add-on loan is Libor plus 525 basis points with a 1% Libor floor, in line with existing first-lien term loan pricing.

Proceeds will be used to pay down revolver borrowings and for general corporate purposes.

Commitments are due on Monday, the source added.

HelpSystems is an Eden Prairie, Minn.-based provider of system & network management, business intelligence, and security & compliance solutions.

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