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Acuren revises $100 million add-on term loan B OID to 99.75
By Sara Rosenberg
New York, Nov. 2 – Acuren (Rockwood Service Corp.) changed the original issue discount on its fungible $100 million add-on term loan B due January 2027 to 99.75 from talk in the range of 99 to 99.5, according to a market source.
Pricing on the term loan is Libor plus 400 basis points with a step-up to Libor plus 425 bps at greater than 3.5x first-lien net leverage and a 0% Libor floor.
The add-on term loan and existing term loan are getting 101 soft call protection for six months.
BofA Securities Inc. is the left lead on the deal.
Commitments are due at 10 a.m. ET on Wednesday, accelerated from 10 a.m. ET on Thursday, the source added.
Proceeds will be used to fund the acquisition of Premium Inspection & Testing Group, a provider of nondestructive testing, inspection and calibration services.
Acuren is a provider of testing services to energy and industrial markets.
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