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Amynta talks $125 million add-on term loan at Libor plus 425 bps
By Sara Rosenberg
New York, Feb. 20 – Amynta Group launched on Wednesday its fungible $125 million add-on covenant-light term loan (B-) due February 2025 with price talk of Libor plus 425 basis points with a 0% Libor floor and an original issue discount of 97 to 97.5, according to a market source.
The add-on term loan has 101 soft call protection for six months, the source said.
Bank of America Merrill Lynch is the lead bank on the deal.
Commitments are due at noon ET on Feb. 27, the source added.
Proceeds will be used to fund acquisitions.
With this transaction, pricing on the company’s existing term loan will be increased to Libor plus 425 bps from Libor plus 400 bps to match the add-on term loan pricing.
Amynta Group, formerly known as FeeCo, is a team of warranty and specialty risk companies as well as managing general agents.
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