IntraFi launches $540 million term loan at Libor plus 625-650 bps

By Sara Rosenberg

New York, Oct. 21 – IntraFi Network LLC (Nexus Buyer LLC) launched on Thursday its $540 million eight-year covenant-lite second-lien term loan (Caa2/CCC) with price talk of Libor plus 625 basis points to 650 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.

The term loan has hard call protection of 102 in year one and 101 in year two, the source said.

Nomura is the left lead arranger on the deal.

Commitments are due at noon ET on Oct. 29, the source added.

Proceeds will be used to fund a distribution to shareholders and pay related fees and expenses.

IntraFi is an Arlington, Va.-based financial technology solutions provider offering deposit placement and funding services to financial institutions.

© 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.