Consilio finalizes $1.01 billion term loan at Libor plus 400 bps

By Sara Rosenberg

New York, April 30 – Consilio (Skipoma Merger Sub Inc.) firmed pricing on its $1.01 billion seven-year covenant-lite first-lien term loan (B2/B-) at Libor plus 400 basis points, the low end of the Libor plus 400 bps to 425 bps talk, according to a market source.

The first-lien term loan still has a 0.5% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Credit Suisse Securities (USA) LLC, Stone Point, BofA Securities Inc., KKR Capital Markets, Truist, Blackstone and Goldman Sachs Bank USA are the arrangers on the deal.

Recommitments were scheduled to be due at 10:30 a.m. ET on Friday, the source added.

The company is also getting a $300 million privately placed second-lien term loan.

Proceeds will be used to help fund the acquisitions of Consilio from GI Partners and Xact Data Discovery from JLL Partners by Stone Point Capital LLC and Aquiline Capital Partners LLC, and merger of the two companies.

Closing is subject to customary conditions, including regulatory approval.

Consilio is a Washington, D.C.-based provider of eDiscovery, document review, risk management and legal consulting services. Xact Data is a Mission, Kan.-based provider of eDiscovery, data management and managed review services.

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