TouchTunes lifts term loan to $155 million, changes OID to 99

By Sara Rosenberg

New York, Dec. 14 – TouchTunes (TA TT Buyer LLC) upsized its fungible incremental covenant-lite first-lien term loan due April 1, 2029 to $155 million from $140 million and revised the original issue discount to 99 from 98.789, according to a market source.

Pricing on the incremental term loan is SOFR plus 525 basis points with a 0.5% floor.

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

Citizens Bank is the lead arranger and administrative agent on the deal.

Commitments were scheduled to be due on Thursday afternoon, the source added.

Proceeds will be used to pay down a portion of the company’s existing second-lien term loan and to fund a shareholder distribution.

TA Associates is the sponsor.

TouchTunes is a New York-based music distributor through a network of jukeboxes.

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