United Talent Agency revises $250 million term loan OID to 98.789

By Sara Rosenberg

New York, Feb. 9 – United Talent Agency modified the original issue discount on its $250 million incremental term loan B due July 2028 (B2/B+) to 98.789 from talk in the range of 97.5 to 98, according to a market source.

Also, the incremental loan was changed to be fungible with the company’s existing term loan B due July 2028 from non-fungible at launch, the source said.

Pricing on the loan remained at SOFR+CSA plus 400 basis points with a 0.75% floor.

CSA is roughly 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate.

The incremental term loan still has 101 soft call protection for six months.

JPMorgan Chase Bank, BofA Securities Inc. and MUFG are the joint lead arrangers on the deal.

Commitments were scheduled to be due at noon ET on Thursday, accelerated from 5 p.m. ET on Thursday, the source added.

Proceeds will be used to pay down revolving credit facility borrowings and add cash to the balance sheet for general corporate purposes and potential mergers and acquisitions.

United Talent is a Los Angeles-based talent and entertainment company.

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