Ipreo Holdings trims discount on $35 million add-on term loan to 99

By Sara Rosenberg

New York, July 19 - Ipreo Holdings LLC revised the original issue discount on its $35 million covenant-light incremental term loan (B1/BB-) to 99 from 98 and dropped the 101 soft call protection for six months, making it fungible with the existing term loan, according to sources.

Pricing on the incremental loan, as well as on the existing loan, is Libor plus 650 basis points with a 1.5% Libor floor.

RBC Capital Markets LLC is the lead bank on the deal.

Proceeds will be used to refinance mezzanine debt.

To allow for the new debt, the existing credit facility needed to be amended and lenders were offered a 25 bps consent fee.

Ipreo is a New York-based capital markets and corporate analytics firm.

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