Omnia Partners firms $123.5 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, July 31 – Omnia Partners Inc. finalized the original issue discount on its $123.5 million add-on first-lien term loan due May 24, 2025 at 99.5, the tight end of the 99.25 to 99.5 talk, according to a market source.

Pricing on the add-on first-lien term loan is Libor plus 375 basis points with a step-down to Libor plus 350 bps and a 0% Libor floor, in line with existing first-lien term loan pricing.

Barclays, Ares, Jefferies LLC and Fifth Third are the bookrunners on the deal that allocated on Monday.

The company is also getting a $26 million pre-placed add-on second-lien term loan.

Proceeds will be used to fund a permitted acquisition.

Closing was targeted for Tuesday, the source added.

TA Associates is the sponsor.

Omnia is a Franklin, Tenn.-based group purchasing organization.

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