EverCommerce lifts loan to $350 million, flexes to Libor plus 325 bps

By Sara Rosenberg

New York, June 10 – EverCommerce Inc. upsized its seven-year term loan to $350 million from $300 million and trimmed pricing to Libor plus 325 basis points from talk in the range of Libor plus 350 bps to 375 bps, according to a market source.

Also, the original issue discount on the term loan was revised to 99.5 from 99, the source said.

As before, the term loan has a 0.5% Libor floor and 101 soft call protection for six months.

KKR Capital Markets and RBC Capital Markets are the leads on the deal.

Recommitments were scheduled to be due at the end of the day on Thursday, the source added.

Allocations are expected on Friday.

Proceeds will be used for a recapitalization in connection with the company’s initial public offering of common stock.

EverCommerce is a Denver-based service commerce platform.

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