SNL Financial launches $305 million credit facility to investors

By Sara Rosenberg

New York, Feb. 7 - SNL Financial LC held a lender call at 3 p.m. ET on Thursday to launch a $305 million credit facility, according to a market source.

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

The facility consists of a $30 million revolver and a $275 million first-lien covenant-light term loan due October 2018, the source said.

Price talk on the term loan is Libor plus 350 basis points with a 1% Libor floor and a par offer price.

The term loan has 101 repricing protection for one year, the source continued.

Proceeds will be used to refinance an existing credit facility, which includes a $275 million term loan priced at Libor plus 425 bps with a 1.25% Libor floor.

Commitments are due on Tuesday, the source added.

SNL is a financial information provider.

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