Greenhill lifts term loan to $375 million, firms at Libor plus 325 bps

By Sara Rosenberg

New York, April 5 – Greenhill & Co. Inc. upsized its five-year first-lien term loan (Ba2/BB) to $375 million from $360 million and set pricing at Libor plus 325 basis points, the low end of the Libor plus 325 bps to 350 bps talk, according to a market source.

Additionally, the original issue discount on the term loan was tightened to 99.5 from 99, the source said.

As before, the term loan has a 0% Libor floor, 101 soft call protection for one year and amortization of 5% per annum.

Goldman Sachs Bank USA is the bookrunner on the deal.

Recommitments were scheduled to be due at noon ET on Friday, the source added.

Proceeds will be used to refinance the company’s existing first-lien term loan and to fund cash to the balance sheet.

Greenhill is a New York-based independent investment bank.

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