Creative Artists launches $425 million term loan B at 99.04 OID

By Sara Rosenberg

New York, Sept. 8 – Creative Artists Agency LLC launched on Friday its fungible $425 million incremental term loan B (B2/B+) due Nov. 26, 2028 with original issue discount talk of 99.04, according to a market source.

Pricing on the incremental term loan is SOFR plus 350 basis points with a 0% floor, in line with existing term loan B pricing.

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

BofA Securities Inc., BNP Paribas Securities Corp. and Credit Agricole are the lead arrangers on the deal.

Commitments for the incremental term loan are due at noon ET on Sept. 15, and amendment consents are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to repurchase existing shares in support of the acquisition of a majority stake in the company by Artemis, the Pinault family’s investment company, from TPG and for general corporate purposes.

Closing is expected this year, subject to customary conditions.

Creative Artists is a Los Angeles-based entertainment and sports agency.

© 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.