First Eagle launches $300 million incremental term B at 99.75 OID

By Sara Rosenberg

New York, Jan. 13 – First Eagle Investment Management LLC held a lender call at 10 a.m. ET on Monday to launch a $300 million incremental term loan B (Ba2) that is talked with an original issue discount of 99.75, according to a market source.

Pricing on the incremental term loan is Libor plus 275 basis points with a 0% Libor floor.

HSBC Securities (USA) Inc. is the lead bank on the deal.

Commitments are due on Thursday, the source said.

Proceeds will be used to help fund the acquisition of THL Credit Advisors LLC, a Boston-based alternative credit manager.

Closing is expected this quarter, subject to regulatory approvals and other customary conditions.

First Eagle is a New York-based investment firm.

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