SurveyMonkey launches $300 million term B at Libor plus 450-475 bps

By Sara Rosenberg

New York, Jan. 17 - SurveyMonkey launched on Thursday its $300 million six-year term loan B with price talk of Libor plus 450 basis points to 475 bps with a 1.25% Libor floor and an original issue discount of 981/2, according to a market source.

The company's $350 million credit facility (B2/B) also includes a $50 million five-year revolver.

J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Goldman Sachs & Co. and SunTrust Robinson Humphrey Inc. are the lead banks on the deal.

Proceeds will be used to refinance existing debt, fund share buybacks and for general corporate purposes.

SurveyMonkey is a provider of online survey tools.

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