EverCommerce launches $200 million add-on term loan at 99.5 OID

By Sara Rosenberg

New York, Nov. 15 – EverCommerce Inc. launched a fungible $200 million add-on term loan due 2028 that is talked with an original issue discount of 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 325 basis points with a 0.5% Libor floor.

KKR Capital Markets and RBC Capital Markets are the leads on the deal.

Commitments are due at 10 a.m. ET on Friday, the source added.

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

EverCommerce is a Denver-based service commerce platform.

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