Sirius to launch $746 million first-lien loan repricing on Tuesday

By Paul A. Harris

Portland, Ore., Jan. 17 – Sirius Computer Solutions Inc. plans to launch a repricing of the SCS Holdings I Inc. $746 million first-lien term loan due July 2026 (Ba3/B) on a Tuesday lender call, according to a market source.

Repricing talk has the spread coming at Libor plus 325 basis points to 350 bps from the present Libor plus 425 bps. The issue price is par. The 0% Libor floor and 1% annual amortization are unchanged. With the repricing, 101 soft call protection resets to six months.

Credit Suisse is the lead arranger.

Commitments will be due on Jan. 27.

Sirius is a San Antonio-based mission critical IT infrastructure solutions provider.

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