Ankura Consulting changes $50 million term loan OID to 99.5

By Sara Rosenberg

New York, Dec. 8 – Ankura Consulting Group LLC revised the original issue discount on its fungible $50 million incremental covenant-lite first-lien term loan due March 2028 (B2/B-) to 99.5 from talk in the 99.25 area, according to a market source.

Pricing on the incremental term loan is SOFR+CSA plus 450 basis points with a 0.75% floor, in line with existing term loan pricing.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

Deutsche Bank Securities Inc. is the left bookrunner on the deal.

Recommitments were scheduled to be due at 11 a.m. ET on Friday, the source added.

Proceeds will be used to repay existing seller notes and to fund near-term merger and acquisition activity.

Ankura is a specialty consulting platform.

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