Colibri launches $55 million add-on term loan B at 98.5 OID

By Sara Rosenberg

New York, July 28 – Colibri launched on Wednesday its fungible $55 million add-on term loan B with original issue discount talk of 98.5, according to a market source.

Pricing on the add-on term loan is Libor plus 500 basis points with a 0.75% Libor floor, in line with pricing on the company’s existing $350 million term loan B.

RBC Capital Markets is the lead arranger on the deal.

Commitments are due at noon ET on Aug. 4, the source added.

Proceeds will be used to support an acquisition in the education space.

Gridiron Capital is the sponsor.

Colibri is a St. Louis-based provider of online learning solutions for professional education.

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