Marlink Group lifts term loan to $80 million, finalizes OID at 98

By Sara Rosenberg

New York, Dec. 12 – Marlink Group (Venga Finance) upsized its fungible incremental first-lien term loan B due June 29, 2029 to $80 million from $50 million and set the original issue discount at 98, the tight end of the 97.75 to 98 talk, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 475 basis points with a 0.75% floor, in line with existing term loan pricing.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

BofA Securities Inc. and KKR Capital Markets are the global coordinators on the deal.

Proceeds will be used to repay revolving credit facility borrowings, for general corporate purposes and to pay transaction fees and expenses.

Marlink is a provider of end-to-end managed smart network and IT services solutions to maritime, enterprise and government customers in remote places.

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