KORE Wireless launches $35 million incremental term loan at 99 OID

By Sara Rosenberg

New York, July 29 – KORE Wireless Group Inc. launched its fungible $35 million incremental first-lien term loan with original issue discount talk of 99, according to a market source.

Pricing on the incremental term loan is Libor plus 550 basis points with a 0% Libor floor, in line with existing first-lien term loan pricing, the source said.

UBS Investment Bank is the lead on the deal.

Proceeds will be used to fund an acquisition.

KORE Wireless is an Alpharetta, Ga.-based provider of integrated software platform to enterprises to deploy, manage and optimize their Internet-of-Things environments.

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