Ensono launches add-on term loan B, then upsizes to $32.5 million

By Sara Rosenberg

New York, Sept. 12 – Ensono LP launched in the morning a fungible $25 million add-on covenant-light term loan B due June 27, 2025 and upsized the loan to $32.5 million in the afternoon, according to a market source.

Pricing on the add-on term loan is Libor plus 525 basis points with a 0% Libor floor and an original issue discount of 99.75, the source said.

Amortization on the term loan is 1% per annum.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used to repay some revolving credit facility borrowings and to pay transaction related fees and expenses.

Ensono is a Chicago-based hybrid IT services provider.

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