Moody’s rates OEConnection loan B2

Moody’s Investors Service said it assigned a B2 rating to OEConnection LLC’s incremental $75 million senior secured first-lien delayed draw term loan.

The new debt is expected to be fungible with the existing B2-rated first lien senior secured term loan due 2026, the agency said.

“The proposed issuance of a $75 million first-lien senior secured term loan add-on, and a $75 million first-lien senior secured incremental delayed draw term loan, does not affect the ratings or the outlook,” Moody’s said in a press release.

Proceeds from the term loan add-on are expected to be used to fund the acquisition of a web-based provider of retail inventory management software and to pay transaction fees.

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