TRC revises $210 million incremental term loan OID to 99.5

By Sara Rosenberg

New York, April 19 – TRC Cos. LLC (Energize Holdco) tightened the original issue discount on its fungible $210 million incremental first-lien term loan due December 2028 to 99.5 from 99.25, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 375 basis points with a 0.5% floor, in line with existing first-lien term loan pricing.

The incremental term loan has no call protection and has amortization of 1% per annum.

Earlier in syndication, the incremental term loan was upsized from $105 million.

UBS Investment Bank is the left lead arranger on the deal.

Recommitments were scheduled to be due at 11 a.m. ET on Friday, the source added.

Proceeds will be used to fully refinance the company’s existing second-lien term loan. Prior to the recent upsizing, the second-lien term loan was going to be partially refinanced.

Warburg Pincus is the sponsor.

TRC is a Windsor, Conn.-based tech-enabled consulting firm focused on providing end-to-end engineering, science and technology solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.