Ontic launches $85 million incremental term loan at SOFR plus 450 bps

By Sara Rosenberg

New York, Sept. 21 – Ontic (Bleriot US Bidco Inc.) launched on Wednesday its non-fungible $85 million incremental covenant-lite first-lien term loan due October 2026 with price talk of SOFR+10 basis points CSA plus 450 bps with a 0% floor and an original issue discount of 95 to 96, according to a market source.

The incremental term loan has 101 soft call protection for six months, the source said.

Nomura Securities is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Tuesday.

Proceeds will be used to repay outstanding revolving credit facility borrowings, for general corporate purposes and to 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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