Ontic finalizes $85 million incremental term loan at 95 OID

By Sara Rosenberg

New York, Sept. 28 – Ontic (Bleriot US Bidco Inc.) firmed the original issue discount on its non-fungible $85 million incremental covenant-lite first-lien term loan (B2/B) due October 2026 at 95, the wide end of the 95 to 96 talk, according to a market source.

Pricing on the incremental term loan remained at SOFR plus 10 basis points CSA plus 450 bps with a 0% floor.

The incremental term loan still has 101 soft call protection for six months.

Nomura Securities is the left lead arranger on the deal.

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

Closing is expected on Friday.

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

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