Tegra118 launches $20 million incremental term B at 98.75-99 OID

By Sara Rosenberg

New York, Oct. 6 – Tegra118 Wealth Solutions Inc. held a lender call at 2 p.m. ET on Tuesday to launch a fungible $20 million incremental covenant-lite first-lien term loan B due Feb. 18, 2027 that is talked with an original issue discount in the range of 98.75 to 99, according to a market source.

Pricing on the incremental term loan is Libor plus 475 basis points with a 0% Libor floor, in line with existing term loan B pricing.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Commitments are due at 3 p.m. ET on Thursday, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Tegra118, formerly known as Fiserv Investment Solutions, is a Warren, N.J.-based provider of financial services.

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