FullBloom to launch $100 million add-on term loan on Monday

By Sara Rosenberg

New York, Feb. 9 – FullBloom is set to hold a lender call at 10 a.m. ET on Monday to launch a fungible $100 million add-on first-lien term loan due 2029, according to a market source.

JPMorgan Chase Bank is the lead on the deal.

Pricing on the add-on term loan is SOFR+CSA plus 425 basis points with a 25 bps step-down at 3.99 first-lien leverage and a 25 bps step-down upon an initial public offering, and a 0.75% floor.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

Original issue discount talk on the add-on term loan is 99.03 to 99.5, the source said.

Commitments are due at 5 p.m. ET on Thursday.

Proceeds will be used to refinance a $100 million privately placed second-lien term loan.

FullBloom is a provider of special education, instructional intervention, behavioral health and professional development solutions.

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