SNL Financial launches $260 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, Oct. 10 - SNL Financial launched on Wednesday its $260 million six-year covenant-light first-lien term loan with talk of Libor plus 475 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The loan has 101 repricing protection for one year.

The company's $290 million credit facility (B2/B) also includes a $30 million five-year revolver.

Commitments are due on Oct. 17, the source added.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

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

SNL is a financial information provider.

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