Authentic Brands launches $150 million term loan at Libor plus 550 bps

By Sara Rosenberg

New York, July 9 – Authentic Brands Group LLC held a lender call on Thursday to launch a non-fungible $150 million incremental first-lien term loan (B) due 2024 that is talked at Libor plus 550 basis points with a 1% Libor floor and an original issue discount of 97, according to a market source.

The term loan is non-callable for one year, the source said.

BofA Securities Inc. is the lead bank on the deal.

Commitments are due at noon ET on Tuesday, the source added.

Proceeds will be used for acquisitions and general corporate purposes.

Authentic Brands is a New York-based acquirer and manager of consumer brands in the fashion, sports and celebrity/entertainment sectors.

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