Veritext tightens $50 million add-on term loan discount to 99.75

By Sara Rosenberg

New York, July 25 – Veritext Corp. revised the original issue discount on its fungible $50 million add-on term loan to 99.75 from 99.5, according to a market source.

Pricing on the add-on term loan is Libor plus 375 basis points with a 0% Libor floor.

The add-on term loan has 101 soft call protection for six months.

BNP Paribas Securities Corp. is the lead on the deal.

Recommitments were scheduled to be due at noon ET on Thursday, the source said.

Proceeds will be used to repay revolving credit facility borrowings.

Veritext is a Livingston, N.J.-based provider of deposition and litigation support solutions for law firms and corporations.

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