Amynta flexes $125 million add-on term loan to Libor plus 450 bps

By Sara Rosenberg

New York, March 1 – Amynta Group increased pricing on its fungible $125 million add-on covenant-light term loan (B2/B-) due February 2025 to Libor plus 450 basis points from Libor plus 425 bps and added a step-down to Libor plus 425 bps when corporate ratings are B2/B, according to a market source.

Also, the original issue discount on the add-on term loan firmed at 97, the wide end of the 97 to 97.5 talk, the source said.

The add-on term loan still has a 0% Libor floor and 101 soft call protection for six months.

Bank of America Merrill Lynch is the lead bank on the deal.

Proceeds will be used to fund acquisitions.

With this transaction, pricing on the company’s existing term loan will be increased to Libor plus 450 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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