Liquid Tech launches $50 million add-on term loan at 98 OID

By Sara Rosenberg

New York, Aug. 14 – Liquid Tech Solutions LLC held a lender call at 1 p.m. ET on Monday to launch a fungible $50 million add-on term loan that is talked with an original issue discount of 98, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 475 basis points with a 0.75% floor.

CSA is 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Citizens Bank is the lead on the deal.

Commitments are due on Aug. 21, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Liquid Tech is a tech-enabled provider of route-based, on-site mobile refueling solutions.

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