Dealogic flexes pricing lower on $641 million U.S., euro term debt

By Sara Rosenberg

New York, Oct. 9 – Dealogic reduced pricing on its $641 million equivalent dollar and euro first-lien term loan (B3) due December 2024 to Libor/Euribor plus 325 basis points from Libor/Euribor plus 350 bps and added two 25 bps step-downs based on leverage, according to a market source.

The term loan still has a 1% floor, a par issue price and 101 soft call protection for six months.

Sizes of the U.S. and euro tranches are still to be determined and will be based on demand.

UBS Investment Bank is the lead on the deal.

Recommitments from U.S. lenders were scheduled to be due at 5 p.m. ET on Tuesday and recommitments from European lenders are due at 7 a.m. ET on Wednesday, the source added.

Allocations are targeted for Wednesday.

Proceeds will be used to reprice existing U.S. and euro term loans down from Libor/Euribor plus 400 bps with a 1% floor.

Dealogic is a New York and London-based provider of data and analytics, market intelligence and capital markets software solutions for financial institutions.

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