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Liaison launches $300 million term loan at Libor plus 375 bps
By Sara Rosenberg
New York, Feb. 24 – Liaison (LI Group Holdings Inc.) launched on Wednesday its $300 million seven-year covenant-lite first-lien term loan (B2/B) with price talk of Libor plus 375 basis points with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months.
Credit Suisse Securities (USA) LLC and UBS Investment Bank are the lead arrangers on the deal.
Commitments are due at 5 p.m. ET on March 3.
Proceeds will be used to refinance an existing term loan and for general corporate purposes.
Liaison is an admission management software provider for higher education.
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