Fotolia sets price talk on $300 million in first- and second-lien loans

By Sara Rosenberg

New York, June 12 - Fotolia LLC disclosed price talk on its $200 million seven-year first-lien term loan (Ba3/B) and $100 million euro equivalent 71/2-year second-lien term loan (Caa1/CCC+) with its bank meeting in New York on Wednesday, according to a market source.

The first-lien term loan is talked at Libor plus 400 basis points to 425 bps with a 1.25% Libor floor and an original issue discount of 991/2, and the second-lien term loan is talked at Euribor plus 800 bps to 825 bps with a 1.25% floor and a discount of 99, the source said.

Included in the first-lien loan is 101 soft call protection for one year and the second-lien term loan has call protection of 103 in year one, 102 in year two and 101 in year three.

Goldman Sachs Bank USA and KKR Capital Markets are leading the deal.

Proceeds will be used to refinance existing debt, fund a dividend and put cash on the balance sheet.

Fotolia is a New York-based provider of royalty-free images, vectors, illustrations and video footage clips.

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