Team Services revises $150 million incremental term loan OID to 99.5

By Sara Rosenberg

New York, Jan. 24 – Team Services Group LLC changed the original issue discount on its fungible $150 million incremental first-lien term loan B due December 2027 to 99.5 from the 99 area, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 500 basis points with a 1% floor, in line with existing term loan pricing.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

UBS Investment Bank is the lead arranger on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used with existing cash to fund acquisitions committed to close or under letters of intent.

Pro forma for the transaction, the first-lien term loan will total about $534 million.

Alpine Investors is the sponsor.

Team Services is a San Diego-based provider of personal home care solutions, with a focus on allowing clients to choose their own caregivers.

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