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Huntsworth finalizes $300 million term loan B discount at 93
By Sara Rosenberg
New York, Aug. 4 – Huntsworth plc firmed the original issue discount on its $300 million seven-year first-lien term loan B (B2/B-) at 93, the wide end of the revised 93 to 94 talk and wide of initial talk of 96, according to a market source.
Also, the 101 soft call protection on the term loan was extended to one year from six months, the source said.
Pricing on the term loan is Libor plus 600 basis points with a 0% Libor floor.
Earlier in syndication, pricing on the term loan was increased from Libor plus 525 bps and the floor was reduced from 0.5%.
RBC Capital Markets is the lead on the deal.
Proceeds will be used to support the £575 million buyout of the company by Clayton, Dubilier & Rice, which was completed in May.
Other funds for the transaction came from a £75 million privately placed second-lien term loan.
Huntsworth is a London-based leading provider of health care marketing and communication services.
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