RentPath finalizes $492.4 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, Aug. 17 – RentPath Inc. firmed pricing on its $492.4 million first-lien term loan (B2/B+) due Dec. 17, 2021 at Libor plus 475 basis points, the high end of the Libor plus 450 bps to 475 bps, according to a market source.

Also, the 101 soft call protection was extended to one year from six months, the source said.

The term loan still has a 1% Libor floor and a par issue price.

RBC Capital Markets is the lead on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 525 bps with a 1% Libor floor.

RentPath is an Atlanta-based vertical search company for apartment and home renters.

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