Tosca Services launches $75 million incremental term loan at 99 OID

By Sara Rosenberg

New York, Dec. 7 – Tosca Services LLC launched on Tuesday its fungible $75 million incremental first-lien term loan due August 2027 with original issue discount talk of 99, according to a market source.

Pricing on the incremental term loan is Libor plus 350 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

The incremental and existing term loan are getting 101 soft call protection for six months, the source said.

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 Dec. 14.

Proceeds will be used to repay ABL borrowings.

Tosca is an Atlanta-based provider of reusable packaging supply chain solutions.

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