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NielsenIQ talks U.S. and euro loans at Libor/Euribor plus 450-475 bps
By Sara Rosenberg
New York, Jan. 25 – NielsenIQ launched on Monday its $950 million term loan and $650 million equivalent euro term loan with price talk of Libor/Euribor plus 450 basis points to 475 bps with an original issue discount of 99, according to a market source.
The U.S. term loan has a 0.5% Libor floor, and the euro term loan has a 0% floor, the source said.
Both term loans have 101 soft call protection for six months.
The company’s $1.95 billion equivalent of secured credit facilities (B1/B) also include a $350 million revolver.
BofA Securities Inc., UBS Investment Bank, Barclays, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., RBC Capital Markets, MUFG, Wells Fargo Securities LLC, Fifth Third, BMO Capital Markets, BNP Paribas Securities Corp., Capital One, Mizuho, SMBC and TD Securities are the leads on the deal, with BofA the left lead on the U.S. loan and UBS the left lead on the euro loan.
Commitments are due on Feb. 4, the source added.
Proceeds will be used to help fund the buyout of the company by Advent International and James Peck, former chief executive officer of TransUnion, from Nielsen Holdings plc for $2.7 billion, and Nielsen will also receive warrants in the new company exercisable in certain circumstances.
Other funds for the transaction will come from up to $989 million of equity.
Closing is expected in the second quarter, subject to approval by Nielsen shareholders, regulatory approvals, consultation with the works council and other customary conditions.
NielsenIQ is a Chicago-based provider of actionable information to consumer packaged goods manufacturers and retailers.
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