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Access CIG lifts add-on loan to $60 million, revises discount to 99¾
By Sara Rosenberg
New York, April 15 – Access CIG LLC upsized its add-on first-lien covenant-light term loan due October 2021 to $60 million from $50 million and tightened the original issue discount to 99¾ from 99½, according to a market source.
Pricing on the add-on loan is still Libor plus 500 basis points with a 1% Libor floor.
Amortization is 1% per annum.
Recommitments were due by noon ET on Wednesday, the source said.
Deutsche Bank Securities Inc. is the bookrunner on the deal.
Proceeds will be used to pay down revolver borrowings and for general corporate purposes, including potential tuck-in acquisitions.
Access CIG is a Livermore, Calif.-based provider of records and information management services.
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