AlixPartners readies launch of $1.51 billion term loan B for Friday

By Sara Rosenberg

New York, Jan. 16 – AlixPartners LLP is scheduled to hold a lender call at 10 a.m. ET on Friday to launch a $1,513,000,000 covenant-lite term loan B due April 4, 2024, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner on the deal.

The term loan is talked at Libor plus 250 basis points with a 0% Libor floor and a par issue price, the source said.

Included in the term loan is 101 soft call protection for six months.

Proceeds will be used to refinance an existing term loan priced at Libor plus 275 bps.

Commitments are due at 5 p.m. ET on Jan. 23, the source added.

AlixPartners is a New York-based performance improvement, corporate turnaround and financial advisory services firm.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.