Paradigm discloses price talk on $170 million of term loans

By Sara Rosenberg

New York, April 19 – Paradigm (Outcomes Group Holdings Inc.) released price talk on its $170 million of term loans in connection with its lender call, according to a market source.

The non-fungible $110 million incremental first-lien term loan due October 2025 (B) is talked at SOFR+CSA plus 450 basis points to 475 bps with a 0.5% floor and an original issue discount of 98, and the non-fungible $60 million incremental second-lien term loan due October 2026 (CCC+) is talked at SOFR+CSA plus 800 bps to 825 bps with a 0.5% floor and a discount of 98, the source said.

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

The incremental first-lien term loan has 101 soft call protection for six months, and the incremental second-lien term loan has call protection of 102 in year one and 101 in year two.

Credit Suisse Securities (USA) LLC and Truist are the arrangers on the deal.

Commitments are due at 5 p.m. ET on April 26.

Proceeds will be used to repay revolving credit facility borrowings and fund a distribution to shareholders.

With this transaction, the revolver maturity is being extended to April 2025 from October 2023.

Paradigm is a Walnut Creek, Calif.-based provider of complex and catastrophic case management to the workers’ compensation industry.

© 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.