Informatica tweaks deal; Authentic Brands discloses talk; Huntsworth readies loan

By Sara Rosenberg

New York, July 9 – In the primary market on Thursday, Informatica LLC modified the original issue discount on its incremental second-lien term loan.

Also, Authentic Brands Group LLC released price guidance on its incremental term loan with its launch, and Huntsworth plc joined the near-term new issue calendar.

Informatica revised

Informatica tightened the original issue discount on its fungible $50 million incremental covenant-lite second-lien term loan due February 2025 to 99.875 from talk in the range of 99 to 99.5, according to a market source.

As before, pricing on the incremental second-lien term loan is a fixed rate of 7.125% and the debt is non-callable until Feb. 25, 2021, then callable at 102 for a year and at 101 for a year, all of which matches existing second-lien loan terms.

Recommitments were due at 5 p.m. ET on Thursday and allocations are targeted for Friday morning, the source added.

Nomura is leading the deal that will be used to repay revolver borrowings and to fund cash to the balance sheet.

Closing is expected during the week of July 13.

Informatica is a Redwood City, Calif.-based provider of enterprise cloud data management software and services.

Authentic holds call

Authentic Brands hosted a lender call during the session, launching a non-fungible $150 million incremental first-lien term loan (B) due 2024 talked at Libor plus 550 bps with a 1% Libor floor and an original issue discount of 97, a market source said.

The term loan is non-callable for one year, the source added.

Commitments are due at noon ET on Tuesday.

BofA Securities, Inc. is leading the deal that will be used for acquisitions and general corporate purposes.

Authentic Brands is a New York-based acquirer and manager of consumer brands in the fashion, sports and celebrity/entertainment sectors.

Huntsworth on deck

Huntsworth set a lender call for 11 a.m. ET on Wednesday to launch a $300 million first-lien term loan, a market source remarked.

RBC Capital Markets is leading the deal that will be used to support the £575 million buyout of the company by Clayton, Dubilier & Rice, which was completed in May.

The company also got a £75 million privately placed second-lien term loan for the buyout.

Huntsworth is a London-based health care marketing and communication company.

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