DBRS launches $250 million first-lien term loan at Libor plus 525 bps

By Sara Rosenberg

New York, Feb. 5 – DBRS launched on Thursday its $250 million seven-year first-lien covenant-light term loan with price talk of Libor plus 525 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

The company’s $300 million credit facility also includes a $50 million five-year revolver.

Credit Suisse Securities (USA) LLC, UBS AG and TD Securities (USA) LLC are the leads on the deal.

Commitments are due on Feb. 19.

Proceeds will be used to help fund the buyout of the company by The Carlyle Group and Warburg Pincus.

Closing is expected this quarter.

DBRS is a Toronto-based credit rating agency.

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