Mitratech launches $50 million incremental term loan-1 at 99.03 OID

By Sara Rosenberg

New York, Jan. 17 – Mitratech held a lender call at 2 p.m. ET on Wednesday to launch a fungible $50 million incremental first-lien term loan-1 that is talked with an original issue discount of 99.03, according to a market source.

Pricing on the term loan-1 is SOFR+CSA plus 375 basis points with a 0.75% floor.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Golub Capital is the left lead arranger on the deal and the administrative agent.

Commitments are due at 5 p.m. ET on Jan. 24, the source added.

Proceeds will be used to repay revolving credit facility borrowings and to add cash to the balance sheet for general corporate purposes.

Pro forma for the transaction, the term loan-1 will total $564.7 million.

Ontario Teachers’ Pension Plan is the majority owner of Mitratech, and Hg Capital is a minority owner.

Mitratech is an Austin, Tex.-based technology partner for corporate legal, risk, compliance and HR professionals.

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