Authentic Brands to launch $465 million in term loans on Thursday

By Sara Rosenberg

New York, May 5 - Authentic Brands Group is set to hold a bank meeting on Thursday to launch $465 million in new term loans, according to a market source.

Bank of America Merrill Lynch, KeyBanc Capital Markets, Barclays and Canaccord are leading the deal.

The debt consists of a $335 million seven-year first-lien term loan and a $130 million eight-year second-lien term loan, the source said.

Proceeds will be used to refinance existing debt, redeem preferred stock, fund a dividend and purchase a minority interest in the Marilyn Monroe brand.

Authentic Brands is a New York-based brand development and licensing company.

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