Colibri increases incremental term loan amount to $490 million

By Sara Rosenberg

New York, Nov. 1 – Colibri upsized its non-fungible incremental first-lien term loan due March 2029 to $490 million from $400 million, according to a market source.

Price talk on the incremental term loan remained at SOFR plus 500 basis points with a 0.75% floor and an original issue discount of 97.5.

The incremental term loan has 101 soft call protection for six months and no CSA.

Golub Capital and Jefferies LLC are joint lead arrangers on the deal. Jefferies is the existing agent.

Commitments continue to be due at noon ET on Nov. 8, the source added.

Proceeds will be used to help support an acquisition, and the funds from the upsizing will be used to pay for a new tuck-in acquisition, pay down outstanding revolving credit facility borrowings, and pay fees and expenses.

Colibri, a Gridiron Capital LLC portfolio company, is a St. Louis-based provider of career lifecycle management and mandatory professional education solutions.

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