OneDigital launches $325 million term loan at SOFR plus 425 bps

By Sara Rosenberg

New York, Nov. 28 – OneDigital held a lender call at 10 a.m. ET on Tuesday to launch a $325 million incremental term loan due November 2027 that is talked at SOFR+CSA plus 425 basis points with a 0.5% floor and an original issue discount of 98.5 to 99, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The incremental term loan has 101 soft call protection for six months, the source said.

JPMorgan Chase Bank, Barclays, Goldman Sachs Bank USA, Golub Capital, BofA Securities Inc., Wells Fargo Securities LLC and Bank of Nova Scotia are the arrangers on the deal.

Commitments are due at 5 p.m. ET on Dec. 5, the source added.

Proceeds will be used to fund acquisitions, and for working capital and general corporate purposes.

OneDigital is an Atlanta-based provider of employee benefits insurance brokerage and retirement consulting services.

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