IntraFi Network lifts incremental term loan amount to $300 million

By Sara Rosenberg

New York, Jan. 25 – IntraFi Network LLC (Nexus Buyer LLC) upsized its fungible incremental covenant-lite first-lien term loan B due Dec. 13, 2028 to $300 million from $200 million, according to a market source.

Pricing on the incremental term loan remained at SOFR plus 450 basis points with a 0% floor and an original issue discount of 98.

The incremental term loan still has 101 soft call protection through June 2024, 0 bps CSA and amortization of 1% per annum.

Morgan Stanley Senior Funding Inc. is the left bookrunner on the deal.

Proceeds will be used to fund a shareholder distribution.

Pro forma for the transaction, the term loan B will total $800 million.

IntraFi is an Arlington, Va.-based financial technology solutions provider offering deposit placement and funding services to financial institutions.

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