Survey Sampling discloses talk on first- and second-lien term loans

By Sara Rosenberg

New York, Nov. 18 – Survey Sampling International LLC released price talk on its $208 million first-lien term loan B and $104 million second-lien term loan with its bank meeting on Tuesday, according to a market source.

The first-lien term loan is talked at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, and the second-lien term loan is talked at Libor plus 850 bps with a 1% Libor floor and a discount of 98˝, the source said.

Included in the first-lien term loan is 101 soft call protection for one year, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

The company’s $337 million credit facility also provides for a $25 million revolver.

Commitments are due on Dec. 5, the source added.

GE Capital Markets is the lead on the deal.

Proceeds will be used to help fund the buyout of the company by HGGC from Providence Equity Partners and Sterling Investment Partners, who have jointly owned the company since 2011 and are retaining minority stakes in the business.

Survey Sampling is a Shelton, Conn.-based provider of data solutions and technology for consumer and business-to-business research.

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