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Ancestry.com to launch new $200 million term B-2, repricing on Friday
By Sara Rosenberg
New York, May 2 - Ancestry.com is scheduled to hold a lender call at 10 a.m. ET on Friday to launch a $200 million five-year amortizing term loan B-2 and a repricing of its existing term loan B, according to a market source.
Morgan Stanley Senior Funding Inc. is the lead arranger on the deal. Barclays is the administrative agent.
Proceeds from the term loan B-2 will be used to refinance existing debt.
The existing term loan B is sized at $670 million. With this transaction, the company will repay $30 million of the term B debt with cash from the balance sheet, the source said.
Current pricing on the term loan B is Libor plus 575 basis points with a 1.25% Libor floor.
Ancestry.com is a Provo, Utah-based online family history resource.
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