Ontic readies launch of $80 million incremental term loan for Tuesday

By Sara Rosenberg

New York, Jan. 31 – Ontic (Bleriot US Bidco Inc.) is set to hold a lender call at noon ET on Tuesday to launch a fungible $80 million incremental covenant-lite first-lien term loan due October 2026, according to a market source.

Nomura Securities is the left lead arranger on the deal.

Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

Original issue discount talk on the incremental term loan is not yet available, the source said.

Proceeds will be used to repay outstanding revolving credit facility borrowings, fund cash to the balance sheet, and pay fees and expenses.

Ontic is a provider of OEM-licensed parts and aftermarket services for mature aerospace and defense platforms.

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