Alight lifts term loan to $525 million, flexes to Libor plus 300 bps

By Sara Rosenberg

New York, Aug. 18 – Alight Solutions upsized its term loan to $525 million from $450 million and reduced pricing to Libor plus 300 basis points from Libor plus 325 bps, according to a market source.

Additionally, the original issue discount on the term loan tightened to 99.75 from talk in the range of 99.25 to 99.5, and the term loan will no longer be fungible with the company’s existing term loan B, the source said.

The term loan still has a 0.5% Libor floor.

BofA Securities Inc. is the left lead bank on the deal.

Proceeds will be used to fund an acquisition and add cash to the balance sheet.

Alight is a Lincolnshire, Ill.-based provider of integrated, cloud-based human capital solutions.

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