TKC Holdings talks $1.13 billion term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, April 20 – TKC Holdings Inc. launched on Tuesday its $1.125 billion seven-year first-lien term loan with price talk of Libor plus 475 basis points to 500 bps with a 0.75% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $1.175 billion of credit facilities also include a $50 million five-year revolver.

Jefferies LLC is the lead arranger on the deal.

Commitments are due at 2 p.m. ET on April 28, the source added.

Proceeds will be used with $500 million of senior unsecured notes to refinance the company’s existing capital structure.

TKC is a St. Louis-based provider of commissary, food service and related technology products to the corrections industry.

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