NielsenIQ launches U.S. and euro loans at Libor/Euribor plus 375 bps

By Sara Rosenberg

New York, Nov. 10 – NielsenIQ launched on Wednesday the repricing of its existing $945 million term loan B due March 2028, a €150 million add-on term loan B and the repricing of its existing €545 million term loan B due March 2028 with price talk of Libor/Euribor plus 375 basis points with a 0% floor and an original issue discount of 99.875 to par, according to a market source.

The term loans (B1/B) are getting 101 soft call protection for six months.

BofA Securities Inc., UBS Investment Bank and BMO Capital Markets 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 at noon ET on Nov. 18 for the U.S. term loan and at 7 a.m. ET on Nov. 18 for the euro term loans, the source added.

Proceeds from the add-on term loan will be used to repay revolving credit facility borrowings and add cash to the balance sheet, and the repricing will take the existing U.S. and euro term loans down from Libor/Euribor plus 400 bps with a 0% floor.

NielsenIQ is a Chicago-based provider of actionable information to consumer packaged goods manufacturers and retailers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.