MHS Holdings increases incremental term loan to $145 million

By Sara Rosenberg

New York, July 1 – MHS Holdings Inc. (Deliver Buyer Inc.) upsized its non-fungible incremental first-lien term loan B (B3/B-) due May 1, 2024 to $145 million from $125 million, according to a market source.

Pricing on the term loan remained at Libor plus 625 basis points with a 1% Libor floor and an original issue discount of 97.

The term loan still has 101 hard call protection for one year.

RBC Capital Markets is the lead arranger on the deal.

Proceeds will be used to repay revolving credit facility borrowings.

Closing is expected during the week of July 6, the source added.

Currently, the company has a roughly $615 million term loan B priced at Libor plus 500 bps with a 1% Libor floor.

Thomas H. Lee Partners LP is the sponsor.

MHS is a Louisville, Ky.-based provider of e-commerce infrastructure.

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