ArisGlobal ups spread on $240 million term loan to Libor plus 500 bps

By Sara Rosenberg

New York, July 29 – ArisGlobal (Athos Merger Sub LLC) increased pricing on its $240 million seven-year covenant-lite first-lien term loan to Libor plus 500 basis points from talk in the range of Libor plus 450 bps to 475 bps, according to a market source.

In addition, the 101 soft call protection on the term loan was extended to one year from six months, the source said.

As before, the term loan has a 0% Libor floor and an original issue discount of 99.

The company’s $270 million of credit facilities (B2/B-) also include a $30 million revolver.

Credit Suisse Securities (USA) LLC is the lead arranger on the deal.

Final commitments were scheduled to be due at 5 p.m. ET on Monday, the source added.

Proceeds will be used to help fund the buyout of the company by Nordic Capital.

ArisGlobal is a Coral Gables, Fla.-based developer of cloud-based software for pharmaceutical and R&D companies.

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