TRC increases incremental first-lien term loan size to $49 million

By Sara Rosenberg

New York, Nov. 8 – TRC Cos. Inc. upsized its incremental first-lien term loan (B2/B) due June 2024 to $49 million from $43 million, according to a market source.

Pricing on the incremental term loan remained at Libor plus 350 basis points with a 1% Libor floor and a par issue price.

UBS Investment Bank is the lead bank on the deal.

Allocations are expected on Friday, the source said.

Proceeds will be used to refinance existing debt and for general corporate purposes.

TRC is a Windsor, Conn.-based engineering, environmental consulting and construction management firm.

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