Authentic Brands firms $1.6 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Feb. 1 – Authentic Brands Group LLC finalized pricing on its $1.597 billion first-lien term loan at Libor plus 325 basis points, the high end of the Libor plus 300 bps to 325 bps talk, according to a market source.

The term loan still has a 0.75% Libor floor, a par issue price and 101 soft call protection for six months.

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

Allocations are expected on Tuesday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 350 bps with a 1% Libor floor.

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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