Triple Point Group sets first- and second-lien loan talk with launch

By Sara Rosenberg

New York, June 17 - Triple Point Group Holdings Inc. released price talk on its $320 million seven-year first-lien covenant-light term loan and $165 million eight-year second-lien covenant-light term loan with its Monday afternoon bank meeting, according to a market source.

The first-lien term loan is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99, and the second-lien term loan is talked at Libor plus 775 bps to 800 bps with a 1% Libor floor and a discount of 981/2, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and call protection on the second-lien term loan is 102 in year one and 101 in year two.

The $525 million credit facility also provides for a $40 million revolver.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to help fund the buyout of the company by Ion Investment Group.

Commitments are due on June 28.

Triple Point is a Westport, Conn.-based provider of software for end-to-end commodity management.

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