First Advantage seeks $50 million add-on first-lien term loan at 98¾

By Sara Rosenberg

New York, Oct. 2 - First Advantage is in market with a $50 million incremental first-lien term loan that is talked at Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 983/4, according to a market source.

BofA Merrill Lynch is the lead bank on the deal.

Proceeds will be used to fund an acquisition.

The company is also looking to amend its existing credit facility to allow for the new debt and the acquisition, the source said.

Lenders are being offered a 25 bps amendment fee.

First Advantage is a St. Petersburg, Fla.-based provider of talent acquisition services, including background screening, recruiting, skills assessment and skills-related tax services.

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