Enlyte finalizes $150 million add-on term loan at 97.5 OID

By Sara Rosenberg

New York, Aug. 1 – Enlyte firmed the original issue discount on its fungible $150 million add-on first-lien term loan due October 2028 (B-) at 97.5, the wide end of the 97.5 to 98 talk, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 375 basis points with a 0.5% floor.

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

Stone Point and KKR Capital Markets are the bookrunners on the deal.

Proceeds will be used to repay revolving credit facility borrowings, for general corporate purposes and to fund potential acquisitions.

Enlyte, formerly known as Mitchell International Inc., is a San Diego-based provider of claims software and technology-enabled solutions to the workers’ compensation and auto insurance industries.

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