DTI Holdco finalizes $1.18 billion term loan B at Libor plus 475 bps

By Sara Rosenberg

New York, March 16 – DTI Holdco Inc. (Epiq) set pricing on its $1.18 billion covenant-light term loan B due Sept. 30, 2023 at Libor plus 475 basis points, the high end of the Libor plus 450 bps to 475 bps talk, according to a market source.

Also, the issue price on the term loan firmed at par, the tight end of the 99.75 to par talk, the source said.

As before, the term loan has a 1% Libor floor and 101 soft call protection for six months.

Bank of America Merrill Lynch is the lead arranger on the deal.

Allocations are expected on Monday, the source added.

Proceeds will be used to refinance an existing term loan B that is priced at Libor plus 525 bps with a 1% Libor floor.

DTI is a Kansas City, Kan.-based provider of integrated technology and services for the legal profession.

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