Zuffa readies launch of $446 million term loan for Tuesday

By Sara Rosenberg

New York, March 3 - Zuffa LLC is set to hold a call at 1 p.m. ET on Tuesday to launch a $446 million term loan due February 2020, according to a market source.

Deutsche Bank Securities Inc., Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Bank of America Merrill Lynch and RBC Capital Markets are the bookrunners on the deal.

Price talk on the term loan is Libor plus 275 basis points to 300 bps with a 0.75% Libor floor and a par offer price, the source said.

The term loan has 101 soft call protection for one year and a secured leverage test.

Proceeds will be used to reprice an existing term loan from Libor plus 325 bps with a 1% Libor floor.

Expected ratings are Ba3/BB+, the source added.

Commitments are due on March 11.

Zuffa is a Las Vegas-based sports and media company that owns the Ultimate Fighting Championship (UFC).

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