Service Logic launches repricing of $662 million of term loans

By Sara Rosenberg

New York, March 22 – Service Logic held a lender call at 11 a.m. ET on Monday to launch a repricing of its existing $530 million first-lien term loan and its existing $132 million delayed-draw first-lien term loan, according to a market source.

Talk on the term loan debt is Libor plus 350 basis points to 375 bps with a 0.75% Libor floor and a par issue price, the source said.

The term loan debt has 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 5 p.m. ET on Thursday, the source added.

The repricing will take the term loans down from Libor plus 400 bps with a 0.75% Libor floor.

Service Logic is a Charlotte, N.C.-based provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems, and building automation and controls systems.

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