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Alight launches $65 million add-on term loan B, revises OID to 99.75
By Sara Rosenberg
New York, March 6 – Alight Inc. (Tempo Acquisition LLC) launched on Monday morning a fungible $65 million add-on term loan B due Aug. 31, 2028 with original issue discount talk of 99.5 and then tightened the discount to 99.75 in the afternoon, according to a market source.
Pricing on the add-on term loan is SOFR plus 300 basis points with a 0.5% floor and no CSA, in line with existing term loan B pricing.
BofA Securities Inc. is the sole arranger on the deal.
Commitments were scheduled to be due at 3:30 p.m. ET on Monday, accelerated from noon ET on Tuesday at the time of the original issue discount change, the source added.
Proceeds will be used to refinance an existing term loan due 2024.
Alight is a Lincolnshire, Ill.-based provider of integrated, cloud-based human capital and business solutions.
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