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Prospect News home > News index > List of issuers D > Headlines for DG Investment Intermediate Holdings 2, Inc. > News item |
Convergint launches $125 million term loan at SOFR plus 475 bps
By Sara Rosenberg
New York, Nov. 14 – Convergint Technologies (DG Investment Intermediate Holdings 2 Inc.) launched without a lender call on Monday morning a fungible $125 million incremental first-lien term loan due March 31, 2028 (B2/B) with price talk of SOFR plus 475 basis points with a 0.75% floor and an original issue discount of 95, according to a market source.
The incremental term loan has 101 soft call protection for six months.
With this transaction, pricing on the existing $184 million incremental first-lien term loan due March 31, 2028 is being increased to SOFR plus 475 bps with a 0.75% floor from SOFR plus 425 bps with a 0.75% floor, the source said.
Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.
Commitments are due at 5 p.m. ET on Tuesday, the source added.
Proceeds from the incremental term loan will be used to repay revolving credit facility borrowings and to fund future acquisitions.
Convergint is a Schaumberg, Ill.-based service-based security systems integrator.
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