ABC Financial firms $115 million incremental term loan at 99.5 OID

By Sara Rosenberg

New York, June 7 – ABC Financial Inc. finalized the original issue discount on its fungible $115 million senior secured incremental first-lien term loan (B3/B-) due June 2025 at 99.5, the tight end of the 99.25 to 99.5 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 425 basis points with a 1% Libor floor, in line with existing first-lien term loan pricing.

The first-lien term loan debt is getting 101 soft call protection for six months.

Jefferies LLC, Macquarie Capital and Antares Capital are the lead arrangers on the deal.

Proceeds will be used to refinance an existing second-lien term loan.

ABC Financial is a Little Rock, Ark.-based software and payment processing company.

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