Insight Global launches $30 million incremental first-lien term loan

By Sara Rosenberg

New York, April 9 – Insight Global (IG Investments Holdings LLC) held a lender call at 3 p.m. ET on Tuesday to launch a fungible $30 million incremental first-lien term loan (B2/B-) due May 2025, according to a market source.

Price talk on the incremental loan is Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.5, the source said.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to fund a distribution to shareholders.

Commitments are due at noon ET on Friday, the source added.

In connection with this transaction, pricing on the company’s existing first-lien term loan will increase to Libor plus 400 bps with a 1% Libor floor from Libor plus 350 bps with a 1% Libor floor to match pricing on the incremental term loan.

Insight Global is an Atlanta-based temporary staffing firm for the information technology sector.

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