Southern Veterinary revises $145 million term loan OID to 99.75

By Sara Rosenberg

New York, March 19 – Southern Veterinary Partners LLC tightened the original issue discount on its fungible $145 million incremental first-lien term loan due Oct. 5, 2027 to 99.75 from 99.5, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 400 basis points with a 1% floor, in line with existing first-lien term loan pricing.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Jefferies LLC and Golub Capital are the arrangers on the deal.

Commitments were scheduled to be due at 2 p.m. ET on Tuesday, accelerated from 2 p.m. ET on Wednesday, the source added.

Proceeds will be used to refinance the company’s existing second-lien term loan.

Southern Veterinary is a Birmingham, Ala.-based provider of general practice veterinary services.

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