Safe Fleet wraps $100 million term loan at SOFR plus 500 bps

By Sara Rosenberg

New York, June 10 – Safe Fleet completed a non-fungible $100 million incremental first-lien term loan due Feb. 23, 2029 (B2) at pricing of SOFR+CSA plus 500 basis points with a 0.5% floor and an original issue discount of 97, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

The incremental term loan has 101 soft call protection for six months, amortization of 1% per annum, and ticking fees of half the margin from days 46 to 75 and the full margin thereafter, the source said.

Goldman Sachs Bank USA is the lead arranger on the deal.

Proceeds will be used to fund an acquisition.

Oak Hill is the sponsor.

Safe Fleet is a Belton, Mo.-based provider of safety and productivity products for fleet vehicles and first responders.

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