Luihn VantEdge reveals first- and second-lien term loan price talk

By Sara Rosenberg

New York, Nov. 9 – Luihn VantEdge Partners LLC disclosed price talk on its $280 million seven-year covenant-lite first-lien term loan and $65 million eight-year covenant-lite second-lien term loan in connection with its lender call on Tuesday, according to a market source.

Talk on the first-lien term loan is Libor plus 450 basis points with a 0.5% Libor floor and an original issue discount of 99, and talk on the second-lien term loan is Libor plus 750 bps with a 0.5% Libor floor and a discount of 98.5, the source said.

The first-lien term loan has 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.

Citizens Bank is the lead arranger and administrative agent.

Commitments are due on Nov. 23, the source added.

Proceeds will be used to fund an acquisition and refinance existing debt.

VantEdge Partners LLC is the sponsor.

Luihn VantEdge is a Morrisville, N.C.-based owner and operator of 172 restaurants (primarily Taco Bell units) across five states.

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