Omnitracs launches $745 million term loan B at Libor plus 300 bps

By Sara Rosenberg

New York, March 7 – Omnitracs LLC launched on Wednesday its $745 million seven-year first-lien term loan B with price talk of Libor plus 300 basis points with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $795 million of credit facilities (B) also include a $50 million five-year revolver.

Barclays, Credit Suisse Securities (USA) LLC, Macquarie Capital (USA) Inc., ING, Vista and Guggenheim are the bookrunners on the deal.

Commitments are due at noon ET on March 16, the source added.

Proceeds will be used to repay the company’s existing first- and second-lien term loans.

Omnitracs is a Dallas-based provider of mission-critical fleet and mobile enterprise software.

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