Safe Fleet Holdings launches $80 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, May 14 – Safe Fleet Holdings LLC launched on Monday its fungible $80 million add-on senior secured first-lien term loan due Feb. 1, 2025 with original issue discount talk of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 300 basis points with a step-down to Libor plus 275 bps at 6.25 times net total leverage and a 1% Libor floor, in line with existing term loan pricing, the source said.

Goldman Sachs Bank USA, UBS Investment Bank and Morgan Stanley Senior Funding Inc. are the lead banks on the deal.

Commitments are due at noon ET on Friday, the source added.

Proceeds will be used for mergers and acquisitions.

Safe Fleet is a Belton, Mo.-based provider of safety and productivity solutions for fleet vehicles.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.