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Anthology talks $325 million term loan at Libor plus 475-500 bps
By Sara Rosenberg
New York, Feb. 17 – Anthology launched on Wednesday its $325 million first-lien term loan with price talk of Libor plus 475 basis points to 500 bps with a 0.75% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
UBS Investment Bank is the lead on the deal.
Commitments are due at 5 p.m. ET on Tuesday.
Proceeds will be used to reprice an existing term loan down from Libor plus 550 bps with a 1% Libor floor.
Anthology, formerly known as Astra, is a Boca Raton, Fla.-based provider of higher education solutions that support the entire learner lifecycle.
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