Blackhawk Network withdraws $1.75 billion term loan B from market

By Sara Rosenberg

New York, May 11 – Blackhawk Network Holdings Inc. pulled its $1.75 billion seven-year term loan B from market, according to a market source.

Talk on the term loan was SOFR plus 400 basis points to 425 bps with a 0% floor, an original issue discount of 98 to 98.5 and 101 soft call protection for six months.

BofA Securities Inc. was the left lead arranger on the deal.

Proceeds were going to be used with cash from the balance sheet to repay the company’s existing first-lien term loan B due 2025 and existing second-lien term loan due 2026.

Blackhawk Network is a Pleasanton, Calif.-based financial technology company and provider of payment solutions, including gift cards, incentive cards and other digital payment solutions.

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