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Authentic Brands ups term loan to $200 million, lowers pricing
By Sara Rosenberg
New York, July 14 – Authentic Brands Group LLC upsized its non-fungible incremental first-lien term loan due 2024 to $200 million from $150 million and reduced pricing to Libor plus 525 basis points from Libor plus 550 bps, according to a market source.
Also, the original issue discount on the term loan was tightened to 97.5 from 97, the source said.
The term loan still has a 1% Libor floor.
BofA Securities Inc. is the lead bank on the deal.
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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