Alight launches, modifies and frees add-on term loan; Topgolf price guidance surfaces

By Sara Rosenberg

New York, March 6 – Alight Inc. (Tempo Acquisition LLC) came to market in the morning with an add-on term loan B, tightened the original issue discount and accelerated the commitment deadline in the afternoon, and broke for trading late in the day.

Alight launched in the morning a fungible $65 million add-on term loan B due Aug. 31, 2028 talked with an original issue discount of 99.5 and, in the afternoon, the discount was revised to 99.75, according to a market source.

Like the existing term loan B, pricing on the add-on term loan is SOFR plus 300 basis points with a 0.5% floor and no CSA.

Commitments were due at 3:30 p.m. ET on Monday, moved up from noon ET on Tuesday upon the tightening of the original issue discount, and the add-on term loan made its way into the secondary market late in the session, with levels quoted at 99 7/8 bid, par ¼ offered, another source added.

And, in more happenings, Topgolf Callaway Brands Corp. released price talk on its term loan B in connection with its lender call.

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