Lereta launches $250 million term loan B at Libor plus 525-550 bps

By Sara Rosenberg

New York, July 8 – Lereta LLC launched on Thursday its $250 million seven-year term loan B with price talk of Libor plus 525 basis points to 550 bps with a 0.75% 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.

The company’s $280 million of credit facilities (B2/B-) also include a $30 million five-year revolver.

Truist Securities is the lead arranger on the deal.

Commitments are due on July 22, the source added.

Proceeds will be used to help fund the buyout of the company by Flexpoint Ford and Vestar Capital Partners from equity holders, including Tarsadia Investments LLC.

Lereta is a Pomona, Calif.-based provider of real estate tax and flood services for mortgage servicers.

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