System One tightens $30 million add-on term loan B price to par

By Sara Rosenberg

New York, June 1 – System One Holdings LLC revised the issue price on its fungible $30 million add-on term loan B to par from 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 450 basis points with a 0.75% Libor floor.

The add-on term loan has 101 soft call protection through Sept. 2.

Truist Securities is the lead on the deal.

Commitments were scheduled to be due at 5 p.m. ET on Tuesday, accelerated from Thursday, the source added.

Proceeds will be used for acquisition financing.

System One is a Pittsburgh-based provider of specialized workforce solutions and integrated services.

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