First Advantage firms term loan repricing at par issue price

By Sara Rosenberg

New York, Jan. 26 – First Advantage finalized the issue price on the repricing of its existing $670 million term loan at par, the tight end of the 99.875 to par talk, according to a market source.

Pricing on the repriced term loan and on the company’s fungible $100 million add-on term loan is Libor plus 300 basis points with a 0% Libor floor, and the debt has 101 soft call protection for six months.

The add-on term loan has an original issue discount of 99.75.

Earlier in syndication, pricing on the add-on term loan was lowered from Libor plus 350 bps and the discount was tightened from the 99 area, and the repricing was added to the transaction.

BofA Securities Inc. is the lead on the deal (B2/B-).

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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