Authentic Brands launching $2.13 billion term loans to investors

By Paul A. Harris

Portland, Ore., Feb. 21 – Authentic Brands Group LLC plans to put in place $2.125 billion of term loan debt (B1/B), according to a market source.

The deal includes a $1.525 billion first-lien term loan B-2 and a $600 million delayed-draw first-lien term loan B-2, both to mature Dec. 21, 2028, co-terminus with the existing term loan B-1.

BofA is the left lead. Other syndicate names are pending.

The loans come with 101 soft call protection for six months.

The borrowing entity will be ABG Intermediate Holdings 2 LLC.

The New York-based brand development, marketing and entertainment company plans to use the proceeds to refinance its $1.525 billion first-lien term loan, upsize and extend its existing revolver to a new five-year maturity and raise a new $600 million first-lien term loan B-2 (delayed draw) to finance a potential acquisition.

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