Travel Leaders Group upsizes add-on term loan to $30 million

By Sara Rosenberg

New York, March 22 – Travel Leaders Group LLC increased its fungible add-on term loan (B+) due December 2020 to $30 million from $25 million, according to a market source.

Pricing on the add-on term loan was unchanged at Libor plus 600 basis points with a 1% Libor floor and an original issue discount of 98.75.

The spread and floor on the add-on term loan matches existing term loan pricing.

UBS AG is the bookrunner on the deal.

Proceeds will be used to add liquidity for potential acquisitions.

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

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