Authentic Brands launches $1.6 billion loan at Libor plus 300-325 bps

By Sara Rosenberg

New York, Jan. 27 – Authentic Brands Group LLC held a lender call at 10:30 a.m. ET on Wednesday to launch a $1.597 billion first-lien term loan that is talked at Libor plus 300 basis points to 325 bps with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BofA Securities Inc. is the lead bank on the deal.

Commitments are due at noon ET on Monday, the source added.

Proceeds will be used to reprice an existing term loan down from Libor plus 350 bps with a 1% Libor floor.

Authentic Brands is a New York-based acquirer and manager of consumer brands in the fashion, sports and celebrity/entertainment sectors.

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