ABC Financial talks $260 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Nov. 29 – ABC Financial Inc. launched on Wednesday its $260 million seven-year first-lien term loan with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The first-lien term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Dec. 13, the source said.

The company’s $400 million of senior secured credit facilities also include a $25 million five-year revolver and a $115 million eight-year second-lien term loan that was privately placed.

The second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Jefferies LLC, Macquarie Capital and Antares Capital are the bookrunners on the deal.

Proceeds will be used to help fund the buyout of the company by Thoma Bravo LLC.

Closing is expected this quarter, subject to customary conditions and regulatory approvals.

ABC Financial is a Little Rock, Ark.-based software and payment processing company.

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