AIT Worldwide changes $50 million add-on term loan OID to 99.75

By Sara Rosenberg

New York, Aug. 11 – AIT Worldwide Logistics revised the original issue discount on its fungible $50 million add-on first-lien term loan B due April 6, 2028 to 99.75 from talk in the 99.5 area, according to a market source.

Pricing on the add-on term loan is Libor plus 475 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

The add-on term loan has 101 soft call protection until Oct. 6, 2021 and amortization of 1% per annum.

Goldman Sachs Bank USA is the lead arranger on the deal.

Proceeds will be used to repay revolving credit facility borrowings and for general corporate purposes.

The Jordan Co. is the sponsor.

AIT Worldwide is an Itasca, Ill.-based non-asset based third party logistics platform, providing an integrated suite of global, end-to-end supply chain services.

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