NorthStar sets $200 million incremental term loan at 99.5 OID

By Sara Rosenberg

New York, Sept. 28 – NorthStar Group Services Inc. firmed the original issue discount on its fungible $200 million incremental term loan due November 2026 at 99.5, the tight end of the 99 to 99.5 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 550 basis points with a 1% Libor floor, in line with existing term loan pricing.

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

Commitments are due at 2 p.m. ET on Wednesday, accelerated from Thursday, the source added.

Proceeds will be used to fund a recapitalization that will include new third-party equity.

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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