Autodata accelerates term loan deadline; Madrid, Big Ass Solutions disclose price talk

By Sara Rosenberg

New York, May 20 – In the primary market on Monday, Autodata Group moved up the commitment deadline for its first-lien term loan, Madrid (AI Plex AcquiCo) and Big Ass Solutions (Big Ass Fans LLC) released price talk with launch, and Spencer Spirit surfaced with new deal plans.

Autodata Group accelerated the commitment deadline for its $375 million seven-year first-lien term loan to noon ET on Wednesday from noon ET on Thursday, a market source remarked.

Talk on the first-lien term loan is Libor plus 350 bps to 375 bps with a 0% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

The company’s $590 million of credit facilities also include a $40 million revolver and a $175 million privately placed eight-year second-lien term loan.

RBC Capital Markets, KKR Capital Markets and SunTrust Robinson Humphrey Inc. are leading the deal that will be used to help fund the buyout of the company by Thoma Bravo LLC from Internet Brands.

Closing is subject to customary conditions.

Autodata is a London, Ont.-based provider of data, technology platforms and services to the automotive industry.

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