Trade Me to launch $775 million equivalent term loan on Wednesday

By Sara Rosenberg

New York, Sept. 28 – Trade Me Group Ltd. (Titan Acquisitionco) is scheduled to hold a lender call at 2:30 p.m. ET on Wednesday to launch a $775 million equivalent U.S and New Zealand dollar seven-year first-lien term loan, of which a minimum of $600 million will be a U.S. tranche, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

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

Commitments are due at 5 p.m. ET on Oct. 7.

The company is also getting a $107 million revolver and a $331 million privately placed second-lien term loan.

Proceeds will be used to repay existing debt and fund a shareholder distribution.

Trade Me is an operator of online classified marketplaces for motor vehicles, property and jobs in New Zealand.

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