AlixPartners revises $170 million incremental loan issue price to par

By Sara Rosenberg

New York, April 30 – AlixPartners LLP modified the issue price on its fungible $170 million incremental covenant-light term loan B (B+) due April 2024 to par from 99.75, according to a market source.

Pricing on the incremental term loan is Libor plus 275 basis points with a 0% Libor floor, in line with existing term loan pricing.

Deutsche Bank Securities Inc. is the left lead bookrunner on the deal.

Recommitments were scheduled to be due at the end of the day on Monday, the source said.

Proceeds will be used for a dividend recapitalization.

AlixPartners is a New York-based performance improvement, corporate turnaround and financial advisory services firm.

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