Duff & Phelps launches $280 million loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Feb. 5 – Duff & Phelps launched on Tuesday its non-fungible $280 million first-lien incremental term loan with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 98.5, according to a market source.

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

UBS Investment Bank is the left lead arranger on the deal.

Commitments are due on Feb. 19, the source added.

Proceeds will be used to fund the acquisition of Prime Clerk.

Closing is expected this quarter, subject to customary conditions and regulatory approval.

Duff & Phelps is a New York-based independent adviser with expertise in the areas of valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues. Prime Clerk is a New York-based claims and noticing administrator.

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