AmeriLife launches $80 million incremental term loan at 98 OID

By Sara Rosenberg

New York, Aug. 12 – AmeriLife Holdings LLC launched on Wednesday its fungible $80 million incremental covenant-lite first-lien term loan due March 18, 2027 with original issue discount talk of 98, according to a market source.

Pricing on the incremental term loan is Libor plus 400 basis points with a 0% Libor floor, in line with existing term loan pricing.

The incremental term loan has 101 soft call protection through Sept. 18, like the existing term loan.

Expected term loan ratings are B2/B.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on Thursday.

Proceeds will be used to fund tuck-in acquisitions and for general corporate purposes.

AmeriLife is a Clearwater, Fla.-based insurance marketing organization.

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