Acosta launches roughly $2 billion term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, Aug. 4 – Acosta Sales & Marketing launched on Monday its $2,065,000,000 seven-year term loan with price talk of Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 99 to 99˝, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $2.29 billion credit facility also includes a $225 million five-year revolver.

J.P. Morgan Securities LLC, Goldman Sachs and Morgan Stanley are leading the debt.

Proceeds will be used to help fund the buyout of the company by Carlyle Group from Thomas H. Lee Partners LP.

In connection with this transaction, GIC, which is an investor in Acosta, will re-invest in the company.

Closing is expected in the third quarter.

Acosta is a Jacksonville, Fla.-based full-service sales and marketing agency in the consumer goods industry.

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