TransUnion eliminates Libor floor, sets issue price on term B-2

By Sara Rosenberg

New York, Jan. 23 – TransUnion LLC removed the 0.75% Libor floor from its $1.9 billion covenant-light term loan B-2 (B1/BB-) due April 2023 and firmed the issue price at par, the tight end of the 99.875 to par talk, according to a market source.

The spread on the term loan B-2 remained at Libor plus 250 basis points, and there is still 101 soft call protection for six months.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Proceeds will be used to reprice an existing term loan B-2 from Libor plus 275 bps with a 0.75% Libor floor, remove the existing pricing grid and extend the maturity from April 2021.

TransUnion is a Chicago-based provider of information management and risk management services.

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