IntraFi seeks second-lien loan amendment to revise permitted holder

By Sara Rosenberg

New York, Jan. 18 – IntraFi Network LLC (Nexus Buyer LLC) launched an amendment to its second-lien term loan to include funds managed by Warburg Pincus LLC and its co-investors as a permitted holder, according to a market source.

The proposed technical amendment would augment the company’s strategic flexibility by facilitating potential further changes in the ownership structure to support growth.

Morgan Stanley Senior Funding Inc. is leading the amendment.

Consents are due at 5 p.m. ET on Tuesday, the source said.

Lenders are being offered a 10 basis points consent fee.

On Jan. 12, the company concluded a first-lien lender vote with 99.12% consents to effect the same permitted holder amendment under its existing first-lien documentation, the source added.

Warburg and co-investors have been IntraFi’s partner since their investment in February 2022. Currently, Warburg and co-investors own 47% of the company and funds managed by the Blackstone Group Inc. and its co-investors own 38%, with management owning the remaining 15%.

IntraFi is an Arlington, Va.-based financial technology solutions provider offering deposit placement and funding services to financial institutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.