Authentic Brands reveals talk on first- and second-lien term loans

By Sara Rosenberg

New York, May 8 - Authentic Brands Group released price talk on its $335 million seven-year first-lien term loan and $130 million eight-year second-lien term loan with its bank meeting on Thursday, according to a market source.

The first-lien term loan is talked at Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99 to 991/2, and the second-lien term loan is talked at Libor plus 750 bps with a 1% Libor floor and a discount of 99, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

Bank of America Merrill Lynch, KeyBanc Capital Markets, Barclays and Canaccord are leading the $465 million deal.

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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