Liquid Tech Solutions launches $300M term loan for refi; commits due March 11

A Citizens-led arranger group has set price talk on a $300 million covenant-lite first-lien term loan for Liquid Tech Solutions, according to sources. Commitments will be due March 11.

Price talk on the term loan has been set at L+475, with a 0.75% Libor floor and an original issue discount of 99. Lenders are offered six months of 101 soft call protection. At talk, the yield to maturity is approximately 5.80%.

Proceeds will be used to refinance existing debt.

Credit Suisse and BNP Paribas are joint lead arrangers on the deal.

Liquid Tech, backed by Lindsay Goldberg, is a tech-enabled provider of route-based, on-site mobile refueling solutions across the U.S.