Research Now, Survey Sampling launch $950 million in term loans

By Sara Rosenberg

New York, Nov. 2 – Research Now/Survey Sampling launched on Thursday a $700 million seven-year first-lien term loan and a $250 million eight-year second-lien term loan, according to a market source.

Goldman Sachs Bank USA, Bank of America Merrill Lynch, Jefferies LLC and Citizens Bank are the leads on the $950 million in senior secured term loans.

Price talk on the first-lien term loan is Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99, and talk on the second-lien term loan is Libor plus 850 bps to 875 bps with a 1% Libor floor and a discount of 98.5, the source said.

Included in the first-lien term loan is 101 soft call protection for six months and the second-lien term loan has call protection of 102 in year one and 101 in year two.

Commitments are due on Nov. 16, the source added.

Proceeds will be used to help fund the merger of Research Now and Survey Sampling International. The combined company will be privately held, with Court Square Capital Partners and HGGC, the current majority owners of Research Now and Survey Sampling, respectively, remaining as majority owners of the combined business.

Closing is expected by the end of the year, after the standard regulatory review process.

Research Now and Survey Sampling are providers of digital data solutions and technology for consumer and business-to-business survey research.

© 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.