24-7 Intouch sets $245 million first-lien loan at Libor plus 425 bps

By Sara Rosenberg

New York, Aug. 20 – 24-7 Intouch firmed pricing on its $245 million seven-year first-lien term loan (B2/B) at Libor plus 425 basis points, the high end of the Libor plus 400 bps to 425 bps talk, according to a market source.

Also, the original issue discount on the term loan was revised to 98 from 99 and the 101 soft call protection was extended to one year from six months, the source said.

The term loan still has a 0% Libor floor.

MFN protection on the loan is 50 bps for life.

The company’s $370 million of senior secured credit facilities also include a $45 million revolver (B2/B) and an $80 million privately placed eight-year second-lien term loan (Caa2/CCC+) priced at Libor plus 775 bps.

RBC Capital Markets and Credit Suisse Securities (USA) LLC are the joint lead arrangers on the financing.

Recommitments were scheduled to be due at noon ET on Monday, the source added.

Ontario Teachers’ Pension Plan is the sponsor.

Closing is targeted for Friday.

24-7 Intouch is a provider of technology enabled, omnichannel, outsourced customer care to consumer-facing businesses.

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