Authentic Brands launches $438 million first-lien term loan repricing

By Sara Rosenberg

New York, Feb. 6 – Authentic Brands Group launched with a lender call on Monday a repricing of its $438 million first-lien term loan due May 27, 2021 with price talk of Libor plus 400 basis points with a 1% Libor floor and a par issue price, according to a market source.

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

Bank of America Merrill Lynch is the lead bank on the deal.

The repricing will take the first-lien term loan down from Libor plus 450 bps with a 1% Libor floor.

Commitments are due at noon ET on Feb. 13, the source continued.

Along with the repricing, the company is seeking an amendment to its credit agreement, for which first-lien lenders are offered a 12.5 bps fee and second-lien lenders are offered a 50 bps fee, the source added.

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

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