Wrench Group prices $54 million incremental term loan at 99.05 OID

By Sara Rosenberg

New York, April 12 – Wrench Group LLC allocated on Tuesday a fungible $54 million incremental first-lien term loan due April 30, 2026 (B2/B-) that was sold at an original issue discount of 99.05, 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.

Jefferies LLC is the lead arranger on the deal.

Proceeds will be used to fund an acquisition.

Pro forma for the transaction, the first-lien term loan totals about $760 million.

Wrench Group is a provider of home maintenance and repair services specializing in heating, ventilation and air conditioning, plumbing, electrical and water quality services.

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