Creative Artists revises $425 million term loan B OID to 99.5

By Sara Rosenberg

New York, Sept. 14 – Creative Artists Agency LLC modified the original issue discount on its fungible $425 million incremental term loan B due Nov. 26, 2028 (B2/B+) to 99.5 from 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 and amendment consents continued to be due at 5 p.m. ET on Thursday, the source added.

Allocations are expected on Friday morning.

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.

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