The Knot launches $175 million add-on term loan at SOFR plus 450 bps

By Sara Rosenberg

New York, Feb. 3 – The Knot held a lender call at 1 p.m. ET on Thursday to launch a $175 million add-on first-lien term loan due December 2025 that is talked at SOFR+10 basis points CSA plus 450 bps with a 0% floor and an original issue discount of 99.5, according to a market source.

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

JPMorgan is the lead on the deal.

Proceeds will be used to repay an existing second-lien term loan.

With this transaction, pricing on the company’s existing $437 million first-lien term loan will change to SOFR+10 bps CSA plus 450 bps with a 0% floor from Libor plus 450 bps with a 0% Libor floor, the source added.

Also, the company is amending its term loan to revise the change-of-control language.

The Knot, previously known as WeddingWire Inc., is a multiplatform wedding resource.

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