Access CIG term loan add-on price talk surfaces at Libor plus 500 bps

By Toni Weeks

San Luis Obispo, Calif., April 9 – Access CIG, LLC is talking its $50 million first-lien term loan add-on due October 2021 (B2/B) at Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The add-on requires amortization of 1% per year.

Deutsche Bank Securities Inc. is the bookrunner.

Commitments are due April 15.

The Livermore, Calif.-based company plans to use the proceeds to pay down its revolver and for general corporate purposes including potential tuck-in acquisitions.

The prospective borrower provides records storage, data security, information destruction and electronic document management services.

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