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OEConnection to launch $75 million incremental term loan on Tuesday
By Sara Rosenberg
New York, April 5 – OEConnection will hold a lender meeting on Tuesday to launch a $75 million incremental first-lien term loan, according to market sources.
Antares Capital is the lead on the deal.
Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with pricing on the company’s existing $454 million first-lien term loan due September 2026.
Original issue discount talk on the incremental term loan is 98.79, sources said.
Proceeds will be used to fund an acquisition.
OEConnection is a Cleveland-based provider of SaaS solutions that help drive genuine original equipment parts sales and services across the entire automotive system.
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