Insight Global launches $170 million tack-on first-lien term loan

By Sara Rosenberg

New York, Sept. 7 – Insight Global (IG Investment Holdings LLC) held a lender call at 3 p.m. ET on Wednesday to launch a $170 million tack-on first-lien term loan due October 2021, according to a market source.

Pricing on the loan is Libor plus 500 basis points with a 1% Libor floor, which matches existing first-lien term loan pricing.

Original issue discount talk on the tack-on loan is 99 to 99.5, the source said.

The tack-on first-lien term loan has 101 soft call protection through April 22, 2017, just like the existing first-lien term loan.

Credit Suisse Securities (USA) LLC, Bank of America Merrill Lynch, Wells Fargo Securities LLC, RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to repay an existing $170 million second-lien term loan.

Commitments are due at 5 p.m. ET on Sept. 14, the source added.

Insight Global is an Atlanta-based temporary staffing firm for the information technology sector.

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