Ensono discloses talk on $643 million credit facilities with launch

By Sara Rosenberg

New York, April 12 – Ensono LP released price talk on its $643 million of senior secured credit facilities in connection with its lender presentation on Thursday, according to a market source.

The $60 million five-year revolver (B2/B) is talked at Libor plus 500 basis points to 525 bps with a 0% Libor floor, the $460 million seven-year covenant-light first-lien term loan (B2/B) is talked at Libor plus 500 bps to 525 bps with a 0% Libor floor and an original issue discount of 99.5, and the $123 million eight-year covenant-light second-lien term loan (Caa2/CCC) is talked at Libor plus 900 bps to 925 bps with a 0% Libor floor and a discount of 99, the source said.

Included in the first-lien term loan is 101 soft call protection for six months and amortization of 1% per annum, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

Morgan Stanley Senior Funding Inc., Barclays, RBC Capital Markets and TD Securities (USA) LLC are the leads on the deal.

Commitments are due on April 25, the source added.

Proceeds will be used to fund the acquisition of Wipro Ltd.’s hosted data center services business for $405 million.

Closing is expected in the quarter ending June, subject to customary conditions and regulatory approvals.

Ensono is a Chicago-based hybrid IT services provider.

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