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Qualtrics revises $175 million add-on term loan OID to 99.875
By Sara Rosenberg
New York, March 5 – Qualtrics tightened the original issue discount on its fungible $175 million add-on first-lien term loan to 99.875 from talk in the range of 99 to 99.5, according to a market source.
Pricing on the add-on term loan is SOFR plus 350 basis points with a 0% floor.
JPMorgan Chase Bank is the lead on the deal.
Commitments were scheduled to be due at 12:30 p.m. ET on Tuesday, accelerated from 5 p.m. ET on Wednesday, the source added.
Proceeds will be used for general corporate purposes, including repayment of revolving credit facility borrowings.
Qualtrics, based in Provo, Utah, and Seattle, is a cloud-native software provider that helps organizations identify and resolve points of friction across all digital and human touchpoints in their business.
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