SurveyMonkey to launch $220 million term loan on Monday

By Sara Rosenberg

New York, Sept. 28 – SurveyMonkey is scheduled to hold a lender call on Monday to launch a $220 million seven-year term loan, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 99.75, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due on Oct. 5, the source added.

Proceeds will be used to help refinance an existing term loan.

SurveyMonkey is a provider of online survey tools.

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