Lighthouse lifts first-lien term loan to $76 million, sets OID at 99.5

By Sara Rosenberg

New York, Oct. 2 – Lighthouse Network LLC upsized its incremental first-lien term loan due October 2023 to $76 million from $60 million and firmed the original issue discount at 99.5, the tight end of the 99 to 99.5 talk, according to a market source.

Pricing on the incremental first-lien term loan is Libor plus 475 basis points with a 1% Libor floor, in line with existing term loan pricing.

The company is also getting a $20 million incremental second-lien term loan due October 2024 that was privately placed.

Credit Suisse Securities (USA) LLC and Citizens Bank are the bookrunners on the deal.

Commitments are due on Tuesday, the source added.

Proceeds will be used to fund tuck-in acquisitions and to refinance revolving credit facility borrowings.

Lighthouse, formerly known as Harbortouch LLC, is an Allentown, Pa.-based independent merchant acquirer and payment solutions provider.

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