Ancestry readies launch of $1.6 billion term loan for Wednesday

By Sara Rosenberg

New York, Feb. 16 – Ancestry.com (Arches Buyer Inc.) will hold a lender call at 10 a.m. ET on Wednesday to launch a $1.6 billion covenant-lite first-lien term loan due December 2027 (B1/B), according to a market source.

Credit Suisse Securities (USA) LLC and Blackstone are leading the arranger group.

Price talk on the term loan is Libor plus 300 basis points to 325 bps with a 0.5% Libor floor and a par issue price, the source said.

The term loan is getting 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Friday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 400 bps with a 0.5% Libor floor.

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

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