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Ellie Mae tightens OID on $350 million incremental term loan to 99.25
By Sara Rosenberg
New York, Oct. 25 – Ellie Mae Inc. revised the original issue discount on its fungible $350 million incremental first-lien term loan due April 17, 2026 to 99.25 from 99, according to a market source.
Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor.
The incremental term loan has 101 soft call protection for six months.
Jefferies LLC, Macquarie Capital (USA) Inc. and Nomura are the lead arrangers on the deal.
Proceeds will be used to fund an acquisition.
Ellie Mae is a Pleasanton, Calif.-based cloud-based platform provider for the mortgage finance industry.
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