| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Apex Group, LLC > News item |
Apex Group sets OID talk on $465 million, €225 million term loans
By Sara Rosenberg
New York, Nov. 1 – Apex Group launched on Monday its $465 million add-on covenant-lite term loan B due July 2028 with original issue discount talk of 99 to 99.5 and its €225 million add-on covenant-lite term loan B due July 2028 with discount talk of 99.25 to 99.5, according to a market source.
Pricing on the U.S. term loan is Libor plus 375 basis points with a 0.5% Libor floor, and pricing on the euro term loan is Euribor plus 400 bps with a 0% floor.
BofA Securities Inc. is the physical bookrunner on the deal. JPMorgan is the agent.
Commitments are due on Nov. 10.
Proceeds will be used with a $180 million pre-placed second-lien term loan to fund the acquisition of Sanne Group, a provider of asset management services, for 920 pence in cash per share, or about £1.51 billion.
Apex is a provider of fund administration services, financial and corporate solutions.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.