Ankura Consulting reveals talk on first- and second-lien term loans

By Sara Rosenberg

New York, March 1 – Ankura Consulting Group LLC disclosed price talk on its $465 million seven-year covenant-lite first-lien term loan and $150 million eight-year covenant-lite second-lien term loan with its lender call on Monday, according to a market source.

The first-lien term loan is talked at Libor plus 425 basis points to 450 bps with a 0.75% Libor floor and an original issue discount of 99, and the second-lien term loan is talked at Libor plus 800 bps to 825 bps with a 0.75% Libor floor and a discount of 98.5, the source said.

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

Deutsche Bank Securities Inc., Jefferies LLC, MUFG and Truist are the bookrunners on the deal, with Deutsche Bank the left lead on the first-lien term loan and Jefferies the left lead on the second-lien term loan.

Commitments are due at noon ET on March 12, the source added.

Proceeds will be used to refinance existing debt.

Ankura is a specialty consulting platform.

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