TCW Group finalizes $582 million term loan at 99.5 OID

By Sara Rosenberg

New York, March 1 – TCW Group firmed the original issue discount on its $582 million term loan due February 2028 at 99.5, the wide end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the term loan remained at Libor plus 175 basis points with a 0% Libor floor.

The term loan has 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to extend an existing term loan B from December 2024. Current term loan pricing is Libor plus 175 bps with a 0% Libor floor.

TCW is a Los Angeles-based asset management firm that specializes in fixed-income, world equity and alternative markets.

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