ImageFirst launches $382.9 million term loan at SOFR plus 425 bps

By Sara Rosenberg

New York, Jan. 25 – ImageFirst Holdings LLC launched on Thursday a $382.9 million term loan, which includes a $20 million delayed-draw tranche, that is talked at SOFR plus 425 basis points with a 0.75% floor, a par issue price for rollover commitments and an original issue discount of 99.75 for new money orders, according to a market source.

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

Antares Capital is the lead on the deal.

Commitments are due at 5 p.m. ET on Feb. 2, the source added.

Proceeds will be used to refinance existing term loans due April 2028, including an existing $20 million delayed-draw term loan that is available for general corporate purposes or acquisitions.

ImageFirst is a King of Prussia, Pa.-based provider of outsourced laundry and textile rental services, with a focus on outpatient and specialty health care.

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