Emerald Expositions tightens OID on $200 million term loan B to 99¾

By Sara Rosenberg

New York, Jan. 13 - Emerald Expositions Holding Inc. revised the original issue discount on its fungible $200 million covenant-light incremental term loan B (BB-) due June 2020 to 99¾ from 99, according to a market source.

Pricing on the incremental loan is Libor plus 425 basis points with a 1.25% Libor floor, in line with the existing term loan B.

The loan has 101 soft call protection until June 16, 2014.

Bank of America Merrill Lynch and Morgan Stanley Senior Funding Inc. are the lead arrangers on the deal.

Proceeds will be used to help fund the acquisition of George Little Management LLC for $335 million.

Other funds for the transaction will come from a $140 million equity investment from Onex Partners III.

Closing is expected this month, subject to customary regulatory approvals.

Emerald is a San Juan Capistrano, Calif.-based operator of large business-to-business tradeshows. George Little Management is a White Plains, N.Y.-based operator of tradeshows, consumer events and digital platforms.

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