SymphonyIRI talks $450 million facility at Libor plus 375-400 bps

By Sara Rosenberg

New York, May 11 - SymphonyIRI Group Inc. launched its $450 million credit facility (B1/B+) on Wednesday afternoon with price talk of Libor plus 375 basis points to 400 bps, according to a market source.

The facility consists of a $50 million five-year revolver and a $400 million 61/2-year covenant-light term loan B.

The term loan B has a 1.25% Libor floor and 101 soft call protection for one year and is being offered at an original issue discount of 991/2, the source said.

The revolver has no Libor floor and a 50 bps upfront fee and includes senior secured leverage and interest coverage covenants.

Bank of America Merrill Lynch, Jefferies & Co. and BMO Capital Markets Corp. are the lead banks on the deal, with Bank of America the left lead.

Proceeds, along with $420 million of equity, will be used to fund the buyout of the company by New Mountain Capital LLC and management.

SymphonyIRI is a Chicago-based provider of sales and marketing data and analytic services for customers in the consumer packaged goods and consumer health industries.

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