First Advantage launches $100 million add-on term loan at 99 OID

By Sara Rosenberg

New York, Jan. 14 – First Advantage launched on Thursday its fungible $100 million add-on term loan with original issue discount talk of 99, according to a market source.

Pricing on the add-on term loan is Libor plus 350 basis points with a 0% Libor floor, in line with existing term loan pricing.

BofA Securities Inc. is the lead on the deal.

Commitments are due at noon ET on Jan. 21, the source added.

Proceeds will be used to repay a privately placed second-lien term loan.

First Advantage is an Atlanta-based provider of comprehensive background screening, identity and information solutions.

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