Ticketek talks first-lien term loan B at Libor plus 425 bps

By Sara Rosenberg

New York, Nov. 12 – Ticketek launched on Tuesday its $285 million U.S. dollar equivalent seven-year senior secured first-lien term loan B with price talk of Libor plus 425 basis points with a 25 bps step-down upon 0.5x net first-lien deleveraging, a 0% Libor floor and an original issue discount of 99, according to a market source.

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

Commitments are due on Nov. 21.

The company is also getting a $100 million U.S. dollar equivalent privately placed second-lien term loan.

Goldman Sachs Bank USA, Barclays, Credit Suisse Securities (USA) LLC, Jefferies LLC, KKR Capital Markets, Macquarie Capital (USA) Inc., UBS Investment Bank and Societe Generale are the leads on the deal.

Proceeds will be used to help fund the buyout of the company by Silver Lake Partners from Affinity Equity Partners.

Closing is expected this year, subject to customary conditions including approval by the Australian Foreign Investment Review Board.

Ticketek is a Sydney, Australia-based provider of ticketing, promotions, venue operations and data analytics marketing solutions to the live entertainment industry in Australia and New Zealand.

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