IRI ups spread on $1.21 billion first-lien loan to Libor plus 450 bps

By Sara Rosenberg

New York, Nov. 7 – Information Resources Inc. (IRI Holdings Inc.) increased pricing on its $1.21 billion seven-year first-lien term loan (B2/B-) to Libor plus 450 basis points from talk in the range of Libor plus 375 bps to 400 bps, according to a market source.

Also, the original issue discount on the first-lien term loan was changed to 99 from 99.5, the source said.

The first-lien term loan still has a 0% Libor floor and 101 soft call protection for six months.

Commitments were scheduled to be due at 4 p.m. ET on Wednesday, the source added.

The company’s $1.68 billion of senior secured credit facilities also include an $80 million five-year revolver (B2/B-) and a $390 million privately placed eight-year senior secured second-lien term loan (Caa2/CCC).

Jefferies LLC, Nomura and Ares are the lead arrangers on the deal.

Proceeds will be used to help fund the buyout of the company by Vestar Capital and select co-investors.

Information Resources is a Chicago-based provider of big data, predictive analytics and forward-looking insights that help companies grow their businesses.

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