Plusgrade readies launch of $420 million term loan B for Thursday

By Sara Rosenberg

New York, Jan. 17 – Plusgrade is set to hold a lender call at 10 a.m. ET on Thursday to launch a $420 million term loan B due 2031, according to a market source.

JPMorgan Chase Bank, Barclays, BMO Capital Markets, Wells Fargo Securities LLC and Bank of Nova Scotia are the lead arrangers on the deal.

The term loan has 101 soft call protection for six months, the source said.

Commitments are due at 5 p.m. ET on Jan. 26, the source added.

Proceeds will be used to support an investment in the company by General Atlantic.

Plusgrade is a Montreal-based provider of ancillary revenue solutions for the travel industry.

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