Grab Holdings tightens $250 million add-on term loan to 99.5 OID

By Sara Rosenberg

New York, Jan. 27 – Grab Holdings Inc. revised the original issue discount on its $250 million add-on term loan to 99.5 from 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.

Recommitments were scheduled to be due at 11 a.m. ET on Wednesday, 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.

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