Emerald EMS launches $250 million term loan at SOFR plus 625 bps

By Sara Rosenberg

New York, Jan. 20 – Emerald EMS launched on Thursday its $250 million seven-year first-lien term loan with price talk of SOFR+CSA plus 625 basis points with a 1% floor and an original issue discount of 98, according to a market source.

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

The term loan has 101 soft call protection for six months and a total net leverage covenant, the source said.

The company’s $295 million of credit facilities (B3/B-) also include a $45 million revolver.

UBS Investment Bank and Barclays are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 3, the source added.

Proceeds will be used to support the recently completed buyout of the company by Crestview Partners.

Emerald EMS is a Salem, N.H.-based high-tech electronics manufacturing services and design firm.

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