LegalShield to launch $135 million incremental term loan on Tuesday

By Sara Rosenberg

New York, Sept. 3 – LegalShield will be launching a non-fungible $135 million incremental first-lien term loan due May 2025 on its lender call that is scheduled for 2 p.m. ET on Tuesday, according to a market source.

RBC Capital Markets and Stone Point Capital Markets are leading the arranger group.

Price talk on the incremental term loan is not yet available, the source said.

Proceeds will be used with cash on hand to refinance an existing $180 million second-lien term loan due May 2026.

The incremental term loan will be co-terminus with the existing $713 million first-lien term loan due May 2025, the source added.

LegalShield is an Ada, Okla.-based provider of subscription-based legal and identity theft protection plans to businesses and individuals. The company is owned by Stone Point Capital, Further Global Capital Management, MidOcean Partners and management.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.