Epiq finalizes $960 million term loan at SOFR plus 475 bps

By Sara Rosenberg

New York, April 21 – Epiq (DTI Holdco Inc.) set pricing on its $960 million seven-year first-lien term loan (B2/B-) at SOFR plus 475 basis points, the low end of the SOFR plus 475 bps to 500 bps talk, according to a market source.

The first-lien term loan still has a 0.75% floor, an original issue discount of 98 and 101 soft call protection for six months.

Recommitments were scheduled to be due at 11 a.m. ET on Thursday, the source added.

The company’s $1.335 billion of credit facilities also include a $125 million revolver and a $250 million privately placed second-lien term loan.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

Proceeds will be used to refinance the company’s existing capital structure.

Epiq is an alternative legal service provider offering technology and services to corporate and law firm clients.

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