Generate Life Sciences talks $130 million term loan at 99.03 OID

By Sara Rosenberg

New York, May 7 – Generate Life Sciences launched on Friday its fungible $130 million incremental covenant-lite first-lien term loan due Aug. 6, 2025 with original issue discount talk of 99.03, according to a market source.

Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

Amortization on the incremental term loan is 1% per annum, and there is no call protection.

Golub Capital Markets LLC is the lead arranger on the deal.

Commitments are due at noon ET on May 14, the source added.

Proceeds will be used to fund an acquisition.

Generate Life Sciences, formerly known as California Cryobank, is a Los Angeles-based life sciences company helping to grow and protect families through reproductive, newborn stem cell, genetic screening, medical device, and health care technology services.

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