MeridianLink/CRIF flexes $315 million term loan to Libor plus 400 bps

By Sara Rosenberg

New York, July 2 – MeridianLink Inc./CRIF Lending Solutions increased pricing on its $315 million seven-year covenant-light first-lien term loan (B2/B/BB) to Libor plus 400 basis points from Libor plus 350 bps, according to a market source.

Also, a step-down was added to the term loan to Libor plus 375 bps at net first-lien leverage of 4.25 times and the 101 soft call protection was extended to one year from six months, the source said.

Furthermore, the MFN sunset has been eliminated and the company will hold annual lender calls.

The term loan still has a 1% Libor floor and an original issue discount of 99.5.

The company’s $475 million of credit facilities also include a $35 million five-year revolver (B2/B/BB) and a $125 million eight-year privately placed second-lien term loan.

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

Proceeds will be used to help fund the buyout of MeridianLink and CRIF by Thoma Bravo LLC.

Costa Mesa, Calif.-based MeridianLink and Atlanta-based CRIF provide mission-critical software platforms that allow financial institutions to automate loan and deposit origination workflows, improve loan decisioning and access data services providers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.