AIS HoldCo to launch $450 million credit facilities on Thursday

By Sara Rosenberg

New York, July 24 – AIS HoldCo LLC (Affinion Insurance Solutions) will hold a bank meeting at noon ET on Thursday to launch $450 million of credit facilities, according to a market source.

Jefferies LLC is the lead arranger on the deal.

The facilities consist of a $25 million revolver, a $315 million seven-year first-lien term loan and a $110 million eight-year second-lien term loan, the source said.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Proceeds will be used to help fund the buyout of the company by Mill Point Capital from Affinion Group LLC.

Closing is expected in the third quarter.

AIS is a Franklin, Tenn.-based business services platform with expertise in the distribution, marketing and administration of a broad range of simplified, guaranteed-issue insurance products.

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