SNL Financial pulls $305 million credit facility from market

By Sara Rosenberg

New York, Feb. 20 - SNL Financial LC withdrew its $305 million credit facility from the primary market, according to a source.

The facility consisted of a $30 million revolver and a $275 million first-lien covenant-light term loan due October 2018.

Price talk on the term loan was Libor plus 350 basis points with a 1% Libor floor and a par offer price, and it had 101 repricing protection for one year.

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

Proceeds were going to 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.

SNL is a financial information provider.

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