Authentic Brands Group launches $115 million in add-on term loans

By Sara Rosenberg

New York, April 6 – Authentic Brands Group held a lender call on Thursday morning to launch $115 million in add-on term loans, according to a market source.

Bank of America Merrill Lynch is the lead bank on the deal.

The debt is split between a $90 million add-on first-lien term loan talked at Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.75, and a $25 million add-on second-lien term loan talked at Libor plus 850 bps with a 1% Libor floor and a discount of 99.5 to 99.75, the source said.

Spreads and floors on the add-on term loans match pricing on the company’s existing first- and second-lien term loans.

Proceeds will be used to fund an acquisition.

Commitments are due on April 13, the source added.

Authentic Brands is a New York-based brand development and licensing company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.