NorthStar launches $555 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, Oct. 15 – NorthStar Group Services Inc. launched on Thursday its $555 million first-lien term loan (B2/B) with price talk of Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Macquarie Capital (USA) Inc. is the lead on the deal.

Commitments are due on Oct. 29, the source added.

Proceeds will be used to refinance existing debt and to fund a dividend.

NorthStar is a New York-based provider of specialized environmental and technical services to government and commercial facility owners in need of operational, decommissioning and remediation services.

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