| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Acosta Sales & Marketing > News item |
Acosta Sales to launch $2.06 billion term loan repricing on Monday
By Sara Rosenberg
New York, April 17 – Acosta Sales & Marketing is set to hold a call on Monday to launch a repricing of its roughly $2.06 billion covenant-light term loan, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal.
The repricing is talked at Libor plus 325 basis points with a 1% Libor floor and an offer price of 99¾ to par, and the debt would get 101 soft call protection for one year, the source said.
By comparison, current pricing on the term loan is Libor plus 400 bps with a 1% Libor floor.
Existing lenders will get paid out at 101 due to existing call protection.
Commitments are due at noon ET on April 24, the source added.
Acosta is a Jacksonville, Fla.-based full-service sales and marketing agency in the consumer goods industry.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.