Internet Brands to launch $100 million term loan on Wednesday

By Sara Rosenberg

New York, May 26 – Internet Brands Inc. will hold a lender call at 9 a.m. ET on Wednesday to launch a $100 million incremental first-lien term loan due July 8, 2021, according to a market source.

Credit Suisse Securities (USA) LLC, RBC Capital Markets and KKR Capital Markets are the leads on the deal.

The incremental loan is talked at Libor plus 375 basis points with a step-up to Libor plus 400 bps and a 1% Libor floor and has 101 soft call protection through July 2015, which is all in line with the existing first-lien term loan, the source said.

Original issue discount talk on the incremental term loan is not yet available, the source continued.

Proceeds will be used for general corporate purposes.

Commitments are due at 5 p.m. ET on Friday, the source added.

The borrowers are MH Sub I LLC and Micro Holding Corp.

Internet Brands is an El Segundo, Calif.-based provider of vertically focused online media and software services.

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