Affinion launches $1 billion credit facility at Libor plus 350 bps

By Sara Rosenberg

New York, March 25 - Affinion Group Inc. launched its $1 billion credit facility on Thursday with price talk of Libor plus 350 basis points, according to a market source.

Tranching on the deal is comprised of a $125 million five-year revolver and an $875 million 61/2-year term loan B.

The term loan B is being talked with a 1.5% to 1.75% Libor floor and an original issue discount in the 98½ to 99 area, the source said.

Bank of America and Credit Suisse are the lead banks on the deal, with Bank of America the left lead.

Proceeds will be used to refinance existing debt and for general corporate purposes, including acquisitions.

Affinion is a Norwalk, Conn.-based provider of marketing services and loyalty programs.

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