Sharp Services changes $150 million term loan OID talk to 99.75-par

By Sara Rosenberg

New York, Feb. 6 – Sharp Services LLC revised the original issue discount talk on its fungible $150 million add-on first-lien term loan (B3) due December 2028 to a range of 99.75 to par from 99.03, according to a market source.

Pricing on the add-on term loan is SOFR+10 basis points CSA plus 400 bps with a 0.5% floor.

JPMorgan Chase Bank and RBC Capital Markets are co-leads on the deal.

Commitments continued to be due at 5 p.m. ET on Tuesday, the source added.

Proceeds will be used with cash on hand to refinance an existing $157.5 million privately placed second-lien term loan.

Sharp Services is a provider of pharmaceutical packaging and clinical services.

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