Access CIG to launch $105 million in incremental loans on Wednesday

By Sara Rosenberg

New York, June 5 – Access CIG LLC is scheduled to hold a lender call at 11:30 a.m. ET on Wednesday to launch $105 million in incremental term loans, according to a market source.

Jefferies LLC is the lead arranger on the deal.

The debt consists of a fungible $85 million incremental first-lien term loan due February 2025 and a fungible $20 million incremental second-lien term loan due February 2026, the source said.

Pricing on the incremental first-lien term loan is Libor plus 375 basis points with a 0% Libor floor, and pricing on the incremental second-lien term loan is Libor plus 775 bps with a 0% Libor floor, in line with the company’s existing term loans.

Also, like the existing loan, the incremental first-lien term loan has 101 soft call protection until August 2018 and the incremental second-lien term loan has hard call protection of 102 until February 2019 and 101 until February 2020.

Proceeds will be used to help fund an acquisition that is expected to close during the week of June 11.

Access CIG is a Livermore, Calif.-based provider of physical and digital records and information management services.

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