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Thryv flexes $350 million term loan B at SOFR plus 675 bps
Chicago, April 26 – Thryv Inc. flexed pricing on its $350 million five-year term loan B (B3) to SOFR plus 675 basis points from initial talk of SOFR plus 700 bps, according to a market source.
The original issue discount has been revised to 99 from talk at 98.
The 1% floor is unchanged.
The term loan has soft call protection of 102 in year one and 101 in year two, a maximum total net leverage ratio covenant of 3x and a minimum LQA SaaS revenue covenant.
Citizens Bank is the lead arranger and administrative agent on the deal.
Commitments were due at 5 p.m. ET on April 26, the source added.
Proceeds will be used to refinance existing debt, including the company’s term loan B due 2026.
Thryv is a Dallas-based software and marketing services company.
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