Duff & Phelps launches $850 million term B at Libor plus 375-400 bps

By Sara Rosenberg

New York, Sept. 26 – Duff & Phelps Corp. launched on Tuesday its $850 million seven-year senior secured first-lien term loan B (B2/B) with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $950 million of credit facilities also include a $100 million five-year ABL revolver.

Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, Barclays and Bank of America Merrill Lynch are the lead banks on the deal.

Commitments are due on Oct. 6, the source added.

Proceeds will be used to refinance existing bank debt and to fund a dividend.

Duff & Phelps is a New York-based independent adviser with expertise in the areas of valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues.

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