Getty Images launches $1.38 billion equivalent U.S. and euro loans

By Sara Rosenberg

New York, Feb. 7 – Getty Images Inc. held a lender call at 11:30 a.m. ET on Wednesday to launch a $980 million seven-year term loan B and a $400 million equivalent euro seven-year term loan B, according to a market source.

Price talk on the U.S. term loan is SOFR plus 375 basis points with a 0% floor and an original issue discount of 99 to 99.5, and talk on the euro term loan is Euribor plus 400 bps with a 0% floor and a discount of 99 to 99.5, the source said.

Both term loans (BB-) have 101 soft call protection for six months.

JPMorgan Chase Bank is the left lead on the deal.

Commitments for the U.S. term loan are due at 5 p.m. ET on Feb. 14 and commitments for the euro term loan are due at 6 a.m. ET on Feb. 15, the source added.

Proceeds will be used to refinance an existing $1.083 billion term loan B due Feb. 19, 2026 and $300 million of senior unsecured notes due March 1, 2027.

Getty Images is a Seattle-based visual content creator and marketplace.

© 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.