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OneDigital revises $325 million incremental term loan OID to 99.27
By Sara Rosenberg
New York, Dec. 5 – OneDigital changed the original issue discount on its $325 million incremental term loan due November 2027 (B3/B) to 99.27 from talk in the range of 98.5 to 99, according to a market source.
Also, the incremental term loan is now fungible with the company’s existing term loan due November 2027, the source said.
Pricing on the incremental term loan is SOFR+CSA plus 425 basis points with a 0.5% floor.
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.
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.
Recommitments were scheduled to be due at 5 p.m. ET on Tuesday, 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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