Liquid Tech revises $300 million term loan discount to 99.5

By Sara Rosenberg

New York, March 17 – Liquid Tech Solutions LLC tightened the original issue discount on its $300 million covenant-lite first-lien term loan (B3/B-) to 99.5 from 99, according to a market source.

The term loan is still priced at Libor plus 475 basis points with a 0.75% Libor floor and has 101 soft call protection for six months.

Citizens, Credit Suisse Securities (USA) LLC and BNP Paribas Securities Corp. are the lead arrangers on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used to refinance existing debt.

Lindsay Goldberg is the sponsor.

Liquid Tech is a tech-enabled provider of route-based, on-site mobile refueling solutions.

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