Teneo sets Monday call to launch $690 million first-lien term loan

By Paul A. Harris

Portland, Ore., Feb. 23 – Teneo Global LLC plans to launch a $690 million seven-year covenant-lite first-lien term loan on a lender call scheduled to begin at 2 p.m. ET on Monday.

The borrowing entities are Teneo Holdings LLC and Thor FinCo LLC.

The $780 million credit facility also includes a $90 million revolver, which features a springing first-lien covenant.

Administrative agent Nomura is the left arranger. HSBC, Deutsche Bank and Santander are the joint arrangers.

The New York-based financial services provider plans to use the proceeds to refinance existing credit facilities and fund cash to its balance sheet.

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