Concord firms $678 million term loan issue price at par

By Sara Rosenberg

New York, March 8 – Concord (Alchemy Copyrights LLC) set the issue price on its $678 million seven-year first-lien term loan at par, the tight end of the 99.875 to par talk, according to a market source.

Pricing on the term loan remained at Libor plus 300 basis points with a 0.5% Libor floor.

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

JPMorgan Chase Bank is the lead bank on the deal.

Proceeds will be used to reprice/refinance an existing term loan due August 2027 that is priced at Libor plus 325 bps with a 0.75% Libor floor.

Concord is a Nashville-based music content provider.

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