Greenhill launches $300 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, Sept. 27 – Greenhill & Co. Inc. launched on Wednesday its $300 million five-year first-lien term loan B with price talk of Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for 18 months and amortization of 5% in year one and 10% in years two, three, four and five, the source said.

The company’s $320 million of credit facilities (Ba2/BB) also include a $20 million three-year revolver.

Goldman Sachs Bank USA is the lead bank on the deal.

Proceeds will be used with equity sale proceeds to repay all existing debt and repurchase up to $235 million of common stock.

Greenhill is a New York-based independent investment bank.

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