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Mergermarket to launch new credit facility on Monday afternoon
By Sara Rosenberg
New York, Jan. 7 - Mergermarket USA Inc. will hold a bank meeting at 2 p.m. ET in New York on Monday to launch a new credit facility, according to a market source.
UBS Securities LLC, Mizuho Securities USA Inc. and HSBC Securities (USA) Inc. are the bookrunners on the deal.
The facility consists of a $40 million five-year revolver, a U.S. equivalent £150 million seven-year first-lien term loan and a U.S. equivalent £70 million eight-year second-lien term loan, the source said.
Both term loans have a 1% Libor floor.
The first-lien term loan has 101 soft call protection and amortization of 1% per annum, and the second-lien term loan has call protection of 102 in year one and 101 in year two.
Commitments are due on Jan. 27, the source added.
Proceeds will be used to help fund the acquisition of Mergermarket Group by BC Partners from Pearson plc for £382 million.
Closing is expected by the end of this quarter.
Mergermarket is a provider of corporate financial news, intelligence and analysis with headquarters in New York, London and Hong Kong.
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