Travel Leaders launches $25 million add-on term loan at 98.75 OID

By Sara Rosenberg

New York, March 10 – Travel Leaders Group LLC launched on Thursday its fungible $25 million add-on term loan with original issue discount talk of 98.75, according to a market source.

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.

UBS AG is the lead bank on the deal.

Commitments are due on March 18, 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.

Lenders are offered a 12.5 bps consent fee, the source added.

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

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