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Ankura Consulting launches $75 million term loan at 99.5 OID
By Sara Rosenberg
New York, Jan. 25 – Ankura Consulting Group LLC launched on Tuesday its fungible $75 million incremental covenant-lite first-lien term loan due March 2028 (B-) with original issue discount talk of 99.5, according to a market source.
Pricing on the incremental term loan is SOFR+CSA plus 450 basis points with a 0.75% floor.
CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.
Deutsche Bank Securities Inc. is the left bookrunner on the deal.
Commitments are due at 5 p.m. ET on Feb. 2, the source added.
Proceeds will be used to fund future acquisitions.
With this transaction, pricing on the company’s existing first-lien term loan is being amended to SOFR+CSA plus 450 bps with a 0.75% floor from Libor plus 450 bps with a 0.75% Libor floor.
Ankura is a specialty consulting platform.
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