Mergermarket sets first- and second-lien term loan talk with launch

By Sara Rosenberg

New York, Jan. 13 - Mergermarket USA Inc. disclosed price talk on its first- and second-lien term loans in connection with its bank meeting on Monday, according to a market source.

The U.S. equivalent £150 million seven-year first-lien term loan is talked at Libor plus 375 basis points with a 1% Libor floor and an original issue discount of 991/2, and the U.S. equivalent £70 million eight-year second-lien term loan is talked at Libor plus 725 bps with a 1% Libor floor and a discount of 99, the source said.

The first-lien term loan has 101 soft call protection for six months 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.

Also included in the company's credit facility is a $40 million five-year revolver.

UBS Securities LLC, Mizuho Securities USA Inc. and HSBC Securities (USA) Inc. are the bookrunners on the deal.

Commitments are due on Jan. 27.

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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