Research Now upsizes revolver and first-lien loan, updates pricing

By Sara Rosenberg

New York, March 11 – Research Now Group Inc. increased its revolver to $40 million from $35 million and its first-lien term loan B to $265 million from $255 million, according to a market source.

Also, pricing on the first-lien term loan B was reduced to Libor plus 450 basis points from Libor plus 500 bps and the original issue discount was revised to 99˝ from 99, the source said.

In addition, the 101 soft call protection on the term loan B was extended to one year from six months.

As for the company’s $135 million second-lien term loan, pricing was cut to Libor plus 875 bps from Libor plus 900 bps and the discount was changed to 98˝ from 98, the source continued.

Both the first- and second-lien term loans still have a 1% Libor floor, and the second-lien debt still has call protection of 102 in year one and 101 in year two.

Recommitments were due at the end of the day on Wednesday, the source added.

GE Capital Markets, Deutsche Bank Securities Inc. and SunTrust Robinson Humphrey Inc. are the joint lead arrangers on the now $440 million credit facility, up from $425 million.

Proceeds will be used to help fund the buyout of the company by Court Square Capital Partners from TA Associates, Polaris Partners, Sutter Hill Ventures and other shareholders.

Research Now is a Plano, Texas-based digital data collection provider.

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