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Compusearch tightens OID on $115 million first-lien term loan B to 99¾
By Sara Rosenberg
New York, April 28 – Compusearch revised the original issue discount on its $115 million six-year first-lien term loan B to 99¾ from 99, according to a market source.
Pricing on the term loan B remained at Libor plus 450 basis points with a 1% Libor floor, and the debt still has 101 soft call protection for six months.
The company’s $181 million facility also provides for a $15 million revolver and a $51 million 6½-year second-lien term loan that was privately placed.
Recommitments were due by the end of the day on Tuesday, the source said.
SunTrust Robinson Humphrey Inc. is the lead on the deal.
Proceeds will be used to help fund the buyout of the company by ABRY Partners.
Compusearch is a Dulles, Va.-based provider of software and services that advance commerce and collaboration among government agencies and contractors.
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