Buyers Edge launches $550 million term loan B at SOFR plus 400 bps

By Sara Rosenberg

New York, April 5 – Buyers Edge Platform launched on Friday its $550 million seven-year term loan B (B1) with price talk of SOFR plus 400 basis points with a 0% floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

JPMorgan Chase Bank, BofA Securities Inc., Truist Securities, Wells Fargo Securities LLC and GA Credit are the leads on the deal.

Commitments are due at 5 p.m. ET on April 15, the source added.

Proceeds will be used to refinance existing debt, fund a distribution and add cash to the balance sheet.

Buyers Edge is a Waltham, Mass.-based provider of procurement, supply chain management and software services to foodservice operators.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.