Wrench Group talks $100 million term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Oct. 22 – Wrench Group, LLC launched its non-fungible $100 million incremental first-lien term loan due April 2026 on Thursday with price talk of Libor plus 450 basis points with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

The incremental term loan has 101 soft call protection for six months, the source said.

Jefferies LLC, Macquarie Capital (USA) Inc. and Antares Capital are the bookrunners on the deal.

Commitments are due at 4 p.m. ET on Oct. 29, the source added.

Proceeds will be used to fund cash to the balance sheet for potential future acquisitions.

Wrench Group is a provider of home maintenance and repair services specializing in heating, ventilation and air conditioning, plumbing, electrical and water quality services.

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