Teneo launches $365 million term loan at Libor plus 450-475 bps

By Sara Rosenberg

New York, June 18 – Teneo Holdings LLC launched on Tuesday its $365 million seven-year first-lien term loan with price talk of Libor plus 450 basis points to 475 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and Nomura are the leads on the deal.

Commitments are due on July 2, the source said.

Proceeds will be used to help fund the buyout of the company by CVC Capital Partners from BC Partners.

Closing is subject to regulatory approval and other customary conditions.

Teneo is a New York-based provider of strategic communications, investment banking, business intelligence, financial analytics, executive recruiting, management consulting and corporate restructuring advisory services.

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