PremiStar launches $75 million add-on term loan at 99.03 OID

By Sara Rosenberg

New York, Nov. 14 – PremiStar launched on Tuesday its fungible $75 million add-on covenant-lite first-lien term loan due August 2028 with original issue discount talk of 99.03, according to a market source.

Pricing on the add-on term loan is SOFR plus 450 basis points with a 0.75% floor.

Truist Securities is the left lead on the deal.

Commitments are due on Nov. 21, the source added.

Proceeds will be used for general corporate purposes, including to fund near-term acquisitions.

PremiStar, formerly known as Reedy Industries, is a Deerfield, Ill.-based provider of commercial heating, ventilation and air conditioning services.

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