Liquid Tech prices upsized $60 million incremental loan at SOFR plus 475 bps at 98

By Paul A. Harris

Portland, Ore., Aug. 23 – Liquid Tech Solutions LLC priced its upsized $60 million fungible $60 million add-on term loan with an interest rate of SOFR+CSA plus 475 basis points and an issue price of 98, according to a market source.

The deal broke to 98¼ bid, 99¼ offered, the source added.

The loan size increased from $50 million.

The credit facility priced on top of price talk.

There is a 0.75% floor.

CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Citizens Bank is the lead on the deal.

Proceeds will be used to repay revolving credit facility borrowings.

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

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