Sedgwick talks $325 million term loan repricing at Libor plus 325 bps

By Sara Rosenberg

New York, Oct. 6 – Sedgwick Claims Management Services Inc. launched on Thursday the repricing of its $325 million incremental first-lien term loan due February 2021 at price talk of Libor plus 325 basis points with a 1% Libor floor and a par issue price, according to a market source.

The repriced loan includes 101 soft call protection for six months, the source said.

KKR Capital Markets is the lead on the deal.

Commitments are due on Oct. 13, however, the deadline is likely going to be accelerated, the source added.

The repricing will take the term loan down from Libor plus 425 bps with a 1% Libor floor.

Sedgwick is a Memphis-based provider of technology-enabled claims and productivity management solutions.

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