Tegra118 lifts term loan B to $25 million, finalizes OID at 99

Sara Rosenberg

New York, Oct. 8 – Tegra118 Wealth Solutions Inc. upsized its fungible incremental covenant-lite first-lien term loan B due Feb. 18, 2027 to $25 million from $20 million and set the original issue discount at 99, the tight end of the 98.75 to 99 talk, 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.

Recommitments were scheduled to be 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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