TransUnion launches amendment to permit change of control, lift spread

By Sara Rosenberg

New York, Feb. 21 - TransUnion LLC launched its credit facility amendment on Tuesday, under which it is asking for permission for a change of control and is offering an increase in pricing, according to a market source.

If approved, pricing on the facility would move to Libor plus 400 basis points from Libor plus 325 bps, with the 1.5% Libor floor remaining unchanged, the source said.

Also, the term loan would get 101 soft call protection for one year.

The company is seeking the change of control allowance because it is being acquired by Advent International and GS Capital Partners VI Fund LP from Madison Dearborn Partners and the Pritzker family for about $1.685 billion, plus the assumption or replacement of existing debt.

Closing on the buyout is expected late in the first quarter of early in the second quarter, subject to regulatory approval.

Deutsche Bank Securities Inc. and Goldman Sachs & Co. are the lead banks on the amendment.

Lenders are being offered a 10 bps amendment fee, the source added.

Consents are due at 2 p.m. ET on Monday.

TransUnion is a Chicago-based provider of information management and risk management services.

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