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Legence Holdings prices $125 million term loan at 99.27 OID
By Sara Rosenberg
New York, Jan. 17 – Legence Holdings LLC priced a fungible $125 million incremental first-lien term loan due Dec. 16, 2027 (B2/B-) at an original issue discount of 99.27, according to a market source.
Pricing on the incremental term loan is SOFR+10 basis points CSA plus 375 bps with a 0.75% floor, in line with existing term loan pricing.
Jefferies LLC, Societe Generale, BMO Capital Markets, MUFG and Blackstone are the arrangers on the deal.
Proceeds will be used for general corporate purposes, including to fund potential future acquisitions.
Legence, formerly Therma Holdings LLC, is a Blackstone-owned San Jose, Calif.-based specialty mechanical, electrical and plumbing services provider focused on serving mission-critical facilities with a high cost of failure.
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