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Nielsen firms spread on $2.9 billion equivalent in U.S. and euro loans
By Sara Rosenberg
New York, Feb. 22 - Nielsen Finance LLC finalized pricing on its roughly $2.9 billion equivalent class E term loan (BBB-) due May 2016 that is split between U.S. and euro tranches, according to market sources.
The U.S. term loan is priced at Libor plus 275 basis points, the wide end of the Libor plus 250 bps to 275 bps talk, and the euro term loan is priced at Euribor plus 300 bps, the high end of the Euribor plus 275 bps to 300 bps talk, sources said.
As before, both tranches have no Libor floor, a par offer price and 101 soft call protection for six months.
In addition, the sizes of the tranches firmed up, at $2,532,000,000 and €300 million, sources added.
Citigroup Global Markets Inc. is the lead bank on the deal.
Proceeds will be used to reprice a term loan A, term loan B and term loan C.
Nielsen is a New York and Netherlands-based provider of information and insights into what consumers watch and buy.
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