Sensis launches $400 million term loan at Libor plus 700 bps

By Sara Rosenberg

New York, Sept. 11 – Sensis launched on Thursday its $400 million five-year term loan (B2/B+) with price talk of Libor plus 700 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year, amortization of 5% per annum and a total leverage covenant, the source said.

Bank of America Merrill Lynch, Macquarie Capital and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

Commitments are due on Sept. 18, the source added.

Proceeds will be used to refinance existing debt and fund a dividend.

Sensis is a provider of local search and digital marketing solutions to Australian businesses.

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