Ancestry firms $350 million incremental term loan at 98.75 OID

By Sara Rosenberg

New York, Aug. 5 – Ancestry.com (Arches Buyer Inc.) set the original issue discount on its fungible $350 million incremental covenant-lite first-lien term loan due December 2027 at 98.75, the wide end of the 98.75 to 99 talk, according to a market source.

Pricing on the incremental term loan is Libor plus 325 basis points with a 0.5% Libor floor, in line with existing term loan pricing.

The incremental term loan has 101 soft call protection for six months, the source said.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

Proceeds will be used to fund a shareholder distribution.

Ancestry.com is a Lehi, Utah-based provider of digital family history services and consumer genomics.

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