Duff & Phelps launches $300 million term loan B at 97.5 area OID

By Sara Rosenberg

New York, July 8 – Duff & Phelps held a lender call at noon ET on Monday to launch a fungible $300 million incremental first-lien term loan B due April 2027 that is talked with an original issue discount in the 97.5 area, according to a market source.

Pricing on the incremental term loan is Libor plus 375 basis points with a 1% Libor floor, in line with existing term loan pricing.

The term loan debt is getting 101 soft call protection for one year, the source said.

Goldman Sachs Bank USA, Stone Point Capital Markets, UBS Investment Bank, BofA Securities Inc., Morgan Stanley Senior Funding Inc., KKR Capital Markets and Credit Suisse Securities (USA) LLC are the leads on the deal.

Commitments are due at 10 a.m. ET on Tuesday, the source added.

Proceeds will be used to fund the acquisition of Virtue, a data-driven regulatory compliance service provider, repay existing revolving credit facility borrowings and add cash to balance sheet.

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.

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