Grab Holdings launches $250 million add-on term loan at 99 OID

By Sara Rosenberg

New York, Jan. 25 – Grab Holdings Inc. launched on Monday a $250 million add-on term loan that is talked with an original issue discount of 99, according to a market source.

Pricing on the add-on term loan matches existing term loan pricing at Libor plus 450 basis points with a 1% Libor floor.

J.P. Morgan Securities LLC is the lead on the deal.

Commitments are due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used for general corporate purposes.

Grab is a Singapore-based ride hailing company and a provider of food delivery, digital payments and other financial services via a mobile app.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.