Alight, Inc. / Delaware (ALIT): debt financing — Alight subsidiary reprices $2.5B term loans, reduces interest rate by 25 bps

Alight, Inc. / Delaware

Fifth Incremental Term Loans of $2,507,387,234.32 established to refinance existing Term B-1 Loans.
Interest rate reduced from SOFR+3.00% to SOFR+2.75%, saving 25 basis points.
New loans mature August 31, 2028; quarterly principal payments equal 0.25% of principal.
Prepayment premium of 1% applies if refinanced within six months of the amendment.
Joint lead arrangers include BofA, Barclays, BMO, Citibank, Credit Suisse, Goldman Sachs, JPMorgan, Morgan Stanley, RBC.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Alight, Inc. / Delaware amended term loan of $2,507,387,234.32 with syndicate of lenders at SOFR + 2.75% maturing August 31, 2028.

Instrument: term loan
Principal: $2,507,387,234.32
Counterparty: syndicate of lenders
Rate: SOFR + 2.75%
Maturity: August 31, 2028
Event: amendment

Exact text from the filing

On September 20, 2023, Tempo Acquisition, LLC (the “Borrower”), an indirect, wholly-owned subsidiary of Alight, Inc. (the “Company”) entered into Amendment No. 9 to Credit Agreement (the “Amendment”) which amended its credit agreement with a syndicate of lenders (the “Credit Agreement” and the Credit Agreement as amended by the Amendment, the “Amended Credit Agreement”) to establish a new class of Fifth Incremental Term Loans with an aggregate principal amount of $2,507,387,234.32 to effect a repricing of the outstanding Initial Term B-1 Loans due August 31, 2028, by reducing the Applicable Rate (as defined in the Amended Credit Agreement) from a SOFR + 3.00% to SOFR + 2.75%.

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Source: SEC EDGAR

accession 0000950170-23-049007

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