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AlixPartners sets pricing on $1.51 million term loan B repricing
By Paul A. Harris
Portland, Ore., Jan. 24 – AlixPartners LLP firmed pricing on its $1,509,000,000 covenant-lite term loan B due April 4, 2024 (B2/B+), according to a market source.
The margin was lowered to Libor plus 250 basis points, on top of spread talk, from 275 bps.
The offer price is par, on top of price talk.
Closing is expected in the week of Jan. 27.
Deutsche Bank Securities Inc. is the left lead bookrunner on the deal.
The term has a 0% Libor floor and 101 soft call protection for six months.
AlixPartners is a New York-based performance improvement, corporate turnaround and financial advisory services firm.
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