Navex Global talks $50 million add-on term loan at discount of 99.5

By Sara Rosenberg

New York, Aug. 14 – Navex Global Inc. is shopping its fungible $50 million add-on first-lien term loan at original issue discount talk of 99.5, according to a market source.

Pricing on the add-on loan is Libor plus 425 basis points with a 1% Libor floor, in line with existing term loan pricing.

Antares Capital is the lead on the deal that launched with a call last week.

Commitments are due on Friday, the source said.

Proceeds will be used to repay some existing second-lien term loan borrowings.

Navex, a Vista Equity Partners portfolio company, is a Portland, Ore.-based provider of ethics and compliance software, content and services.

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