MeridianLink talks $100 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, Dec. 3 – MeridianLink Inc. launched on Thursday its fungible $100 million incremental first-lien term loan with price talk of Libor plus 400 basis points with a step-down to Libor plus 375 bps when net first-lien leverage is 3x, a 1% Libor floor and an original issue discount of 99.03, according to a market source.

With this transaction, pricing on the company’s existing roughly $407 million first-lien term loan will be increased to Libor plus 400 bps from Libor plus 375 bps, and a step-down will be added to Libor plus 375 bps when net first-lien leverage is 3x.

All of the first-lien term loan debt is getting 101 soft call protection for six months, the source said.

Antares Capital and Golub Capital are the joint lead arrangers on the deal.

Commitments are due on Dec. 15, the source added.

Proceeds from the incremental term loan will be used with balance sheet cash to fund two acquisitions and pay related fees and expenses, and for general corporate purposes.

MeridianLink, a Thoma Bravo, LLC portfolio company, is a Costa Mesa, Calif.-based provider of SaaS-based solutions to financial institutions that simplify loan decisioning, deposit and loan originations and workflow challenges.

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