NEP lifts add-on term loan B to €110 million, firms at 99.5 OID

By Sara Rosenberg

New York, Aug. 9 – NEP Group Inc. upsized its fungible add-on term loan B due Oct. 20, 2025 to €110 million from $100 million euro equivalent and finalized the original issue discount at 99.5, the tight end of the 99.25 to 99.5 talk, according to a market source.

Pricing on the add-on term loan is Euribor plus 350 basis points with a 0% floor.

Barclays is the bookrunner on the deal.

Commitments were due at 10:30 a.m. ET on Friday, accelerated from 7 a.m. ET on Wednesday, the source said.

Allocations went out on Friday.

Proceeds will be used to repay amounts drawn under the company’s credit facility.

Carlyle is the sponsor.

NEP is a Pittsburgh-based provider of outsourced live and broadcast production solutions.

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