Thryv postpones $1.06 billion credit facilities on market conditions

By Sara Rosenberg

New York, March 5 – Thryv Inc. is temporarily suspending its $1.06 billion of credit facilities and the potential acquisition of a non-U.S. entity and the refinancing that the debt would have funded as a result of market conditions, according to a news release.

The company said that it will seek to pursue the acquisition at a yet to be determined date in the future, subject to more favorable market conditions.

The credit facilities consisted of a $200 million ABL revolver, and an $860 million five-year first-lien term loan talked at Libor plus 850 basis points with a 1% Libor floor and an original issue discount of 98.5.

Included in the term loan was call protection of 102 in year one and 101 in year two.

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

Thryv is a Dallas-based provider of local small business lead generation solutions and management software.

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