Compass Group shops $565.7 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, March 3 – Compass Group is seeking a $565.7 million term loan B that is talked at Libor plus 275 basis points with a 0% Libor floor, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Commitments are due on Thursday, the source added.

Proceeds will be used to refinance an existing term loan B.

Compass Group is a Westport, Conn.-based investment firm specializing in acquiring controlling stakes in small- to middle-market companies.

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