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AdThrive launches $15 million add-on term loan B at 99 OID
By Sara Rosenberg
New York, May 7 – AdThrive (CMI Marketing Inc.) launched on Friday morning a fungible $15 million add-on term loan B due March 2028 with original issue discount talk of 99 and firmed the discount at that level later in the day, according to a market source.
Pricing on the add-on term loan is Libor plus 475 basis points with a 0.75% Libor floor.
The add-on term loan has amortization of 1% per annum.
Morgan Stanley Senior Funding Inc. is the lead arranger and bookrunner on the deal.
Commitments were scheduled to be due at 1 p.m. ET on Friday, accelerated from 1 p.m. ET on Tuesday, the source added.
Proceeds will be used to pay a dividend to the shareholders.
AdThrive is an ad management firm.
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