First Advantage flexes $100 million add-on term loan, adds repricing

By Sara Rosenberg

New York, Jan. 21 – First Advantage lowered pricing on its fungible $100 million add-on term loan to Libor plus 300 basis points from Libor plus 350 bps and added a repricing of its existing $670 million term loan to Libor plus 300 bps from Libor plus 350 bps to its transaction, according to a market source.

Additionally, the original issue discount on the add-on term loan was tightened to 99.75 from the 99 area, the source said.

The repricing is talked with a discount of 99.875 to par.

The term loan debt has a 0% Libor floor and 101 soft call protection for six months.

BofA Securities Inc. is the lead on the deal.

Commitments are due at 5 p.m. ET on Friday, the source added.

Allocations are expected on Monday.

Proceeds from the add-on 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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