Market Track flexes $225 million term loan to Libor plus 425 bps

By Sara Rosenberg

New York, June 2 – Market Track increased pricing on its $225 million seven-year covenant-light first-lien term loan (B2) to Libor plus 425 basis points from talk of Libor plus 375 bps to 400 bps, according to a market source.

The first-lien term loan still has a 1% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

The company’s $350 million of credit facilities also include a $30 million revolver (B2) and a $95 million second-lien term loan that has been privately placed.

Antares Capital and Golub Capital are the leads on the deal.

Allocations went out on Friday, the source said.

Closing is targeted for Monday, the source added.

Proceeds will be used to help fund the buyout of the company by Vista Equity Partners.

Chicago-based Market Track is a subscription-based provider of promotional and brand advertising data, analysis and insight services to advertising agencies, retailers and consumer product companies.

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