Wrench Group cuts spread on $150 million loan to SOFR plus 450 bps

By Sara Rosenberg

New York, March 7 – Wrench Group LLC reduced pricing on its non-fungible $150 million incremental senior secured first-lien term loan due April 2026 (B2/B-) to SOFR plus 450 basis points from SOFR plus 475 bps, according to a market source.

Also, the original issue discount on the incremental term loan firmed at 98, the tight end of the 97.5 to 98 talk, the source said.

The incremental term loan still has 10 bps CSA and a 0.5% floor.

Jefferies LLC, Macquarie Capital (USA) Inc. and Antares Capital are the lead arrangers on the deal.

Commitments continued to be due at noon ET on Tuesday, the source added.

Proceeds will be used for general corporate purposes.

Wrench Group is a provider of home maintenance and repair services specializing in heating, ventilation and air conditioning, plumbing, electrical and water quality services.

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