Corporation Service to launch $1.25 billion term loan B on Monday

By Sara Rosenberg

New York, July 29 – Corporation Service Co. (CSC) is scheduled to hold a lender call at 10:30 a.m. ET on Monday to launch a $1.25 billion seven-year term loan B, according to a market source.

BofA Securities Inc., Jefferies LLC and Wells Fargo Securities LLC are the leads on the deal (B1/BB-/BBB-).

The company has already syndicated a $1.955 billion term loan A priced at SOFR plus 250 basis points and a €40 million term loan A.

The total amount of term loan A debt was upsized by about $1 billion during the syndication process, resulting in the term loan B being about $1 billion smaller than previously expected, the source said.

Proceeds will be used with cash on hand to fund the acquisition of Intertrust NV for €20 in cash per share, or about €1.8 billion, and to refinance existing debt.

Corporation Service is a Wilmington, Del.-based provider of corporate, legal, tax and digital brand services. Intertrust is an Amsterdam-based provider of tech-enabled fund and corporate solutions.

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