Kroll launches $225 million term loan at SOFR plus 375 bps

By Sara Rosenberg

New York, April 7 – Kroll launched on Thursday its fungible $225 million incremental first-lien term loan due April 2027 with price talk of SOFR plus 375 basis points with a 1% floor and an original issue discount of 99, according to a market source.

Amortization on the incremental term loan is 1% per annum.

Goldman Sachs Bank USA and Stone Point Capital Markets are the arrangers on the deal, with Goldman the left lead and administrative agent.

Commitments are due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and add cash to the balance sheet.

The company is also seeking through a negative consent amendment to move pricing on its existing term loan due April 2027 to SOFR plus 375 bps with a 1% floor from Libor plus 375 bps with a 1% Libor floor.

Stone Point is the sponsor.

Kroll, previously known as Duff & Phelps, is a New York-based provider of data, technology and insights for risk, governance and growth.

© 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.