SymphonyIRI seeks $30 million add-on, term loan repricing

By Sara Rosenberg

New York, March 12 - SymphonyIRI Group is in the market with a $30 million add-on term loan and a repricing of its existing term loan, according to a market source.

The add-on and repricing are talked at Libor plus 325 basis points with a 1.25% Libor floor, a par offer price and 101 soft call protection for one year, the source said.

Initially, the add-on was talked at an original issue discount of 991/2, but the offer price was tightened to par during syndication.

Proceeds from the add-on will be used for general corporate purposes, and the repricing will bring the existing term loan pricing down from Libor plus 375 bps with a 1.25% Libor floor.

Existing lenders are being offered a 5 bps amendment fee.

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

Allocations are targeted to go out on Thursday, the source added.

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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