Travel Leaders to launch $25 million add-on term loan on Thursday

By Sara Rosenberg

New York, March 9 – Travel Leaders Group LLC is scheduled to hold a bank meeting at 11 a.m. ET in New York on Thursday to launch a fungible $25 million add-on term loan, according to a market source.

UBS AG is the lead bank on the deal.

Pricing on the add-on term loan is Libor plus 600 basis points with a 1% Libor floor, in line with pricing on the existing term loan.

Original issue discount talk on the add-on is not yet available, the source said.

Proceeds will be used to add liquidity for potential acquisitions.

Along with the add-on term loan, the company is seeking technical amendments to its credit facility.

Travel Leaders is a Plymouth, Minn.-based travel agency company.

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