Ancestry firms $1.6 billion term loan at Libor plus 325 bps

By Sara Rosenberg

New York, Feb. 19 – Ancestry.com (Arches Buyer Inc.) finalized pricing on its $1.6 billion covenant-lite first-lien term loan due December 2027 (B1/B) at Libor plus 325 basis points, the high end of the Libor plus 300 bps to 325 bps talk, according to a market source.

As before, the term loan has a 0.5% Libor floor, a par issue price and 101 soft call protection for six months.

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

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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