Ancestry.com to launch $1.9 billion of term loans on Tuesday

By Sara Rosenberg

New York, Sept. 26 – Ancestry.com Operations Inc. set a lender call for 12:30 p.m. ET on Tuesday to launch $1.9 billion of term loans, according to a market source.

The debt consists of a $1.35 billion seven-year first-lien term loan B and a $550 million eight-year second-lien term loan, the source said.

Price talk on the first-lien term loan is Libor plus 425 basis points to 450 bps with a 1% Libor floor and an original issue discount of 99.5, and talk on the second-lien term loan is Libor plus 850 bps with a 1% Libor floor and a discount of 98.5, the source continued.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the lead banks on the deal, with JPMorgan the left lead on the first-lien term loan and Deutsche Bank the left lead on the second-lien term loan.

Proceeds will be used to refinance existing debt, consisting of a $728 million term loan B, $300 million of Opco unsecured notes and $390 million of Holdco unsecured notes, to fund a return of capital to shareholders and to pay related fees and expenses.

Ancestry.com is a Provo, Utah-based online family history resource.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.