Syndigo finalizes first- and second-lien term loan pricing

By Sara Rosenberg

New York, Dec. 14 – Syndigo LLC firmed pricing on its $375 million seven-year first-lien term loan (B2/B-) at Libor plus 450 basis points, the high end of the Libor plus 425 bps to 450 bps talk, and on its $160 million eight-year second-lien term loan (Caa2/CCC) at Libor plus 800 bps, the high end of the Libor plus 775 bps to 800 bps talk, according to a market source.

Both term loans still have a 0.75% Libor floor and an original issue discount of 98.5.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

The company’s $585 million of credit facilities also include a $50 million five-year revolver (B2/B-).

Jefferies LLC, Deutsche Bank Securities Inc. and UBS Investment Bank are the bookrunners on the deal.

Proceeds will be used to fund an investment in the company by Summit Partners.

Syndigo is a Chicago-based provider of digital product information and content solutions for the commerce ecosystem via an end-to-end SaaS platform.

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