Wood Mackenzie flexes $1.32 billion term loan to SOFR plus 350 bps

By Sara Rosenberg

New York, Jan. 31 – Wood Mackenzie (Planet US Buyer LLC) lowered pricing on its $1.315 billion seven-year term loan B (B2/B+) to SOFR plus 350 basis points from talk in the range of SOFR plus 375 bps to 400 bps, according to a market source.

Furthermore, a 25 bps pricing step-down was added to the term loan at 3.85x first-lien net leverage, and the original issue discount was revised to 99.75 from 99, the source said.

The term loan still has a 0% floor, no CSA and 101 soft call protection for six months.

BofA Securities Inc., Barclays, BMO Capital Markets, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., JPMorgan Chase Bank and Nomura are the arrangers on the deal.

Recommitments were scheduled to be due at 2:30 p.m. ET on Wednesday, the source added.

Proceeds will be used to refinance an existing $1.244 billion unitranche term loan.

Wood Mackenzie is an Edinburgh, U.K.-based provider of data, analytics, research and consulting services for the energy, renewables and natural resources sectors.

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