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Omnia launches $1.8 billion term loan B at SOFR plus 375 bps
By Sara Rosenberg
New York, Jan. 4 – Omnia Partners LLC launched on Thursday its $1.805 billion senior secured term loan B (B2/B) due July 25, 2030 with price talk of SOFR plus 375 basis points with a 0% floor and a par issue price, according to a market source.
The term loan has a 25 bps step-down at about a turn inside of opening first-lien net leverage, but can’t step down for 12 months post closing, and 101 soft call protection for six months, the source said.
Barclays is the left lead on the deal.
Commitments are due at 5 p.m. ET on Tuesday.
Proceeds will be used to reprice an existing $1.805 billion senior secured term loan B due July 25, 2030 from SOFR plus 425 bps with a 0% floor. The existing term loan has a 25 bps step-down at 1x inside closing date consolidated first-lien net leverage, but was unable to step down prior to 12 months from the original closing date.
Omnia, owned by TA Associates, Leonard Green & Partners and management, is a Franklin, Tenn.-based non-health care group purchasing organization.
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