AmeriLife raises term loan to $155 million, sets OID at 99.5

By Sara Rosenberg

New York, Nov. 18 – AmeriLife Holdings LLC upsized its fungible incremental covenant-lite first-lien term loan due March 2027 to $155 million from $135 million and firmed the original issue discount at 99.5, the tight end of the 99.25 to 99.5 talk, according to a market source.

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

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

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

Recommitments were scheduled to be due at 1:30 p.m. ET on Thursday, the source added.

Proceeds will be used to fund tuck-in acquisitions and add cash to the balance sheet.

AmeriLife is a Clearwater, Fla.-based insurance marketing organization.

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