Creative Artists launches $1.15 billion term B at Libor plus 375 bps

By Sara Rosenberg

New York, Nov. 13 – Creative Artists Agency (CAA Holdings LLC) launched on Wednesday a $1.15 billion seven-year covenant-lite term loan B with price talk of Libor plus 375 basis points with a 0% Libor floor and an original issue discount of 99, according to a market source.

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

The company’s $1,275,000,000 of credit facilities (B2/B+) also include a $125 million revolver.

BofA Securities Inc., Mizuho, Credit Suisse Securities (USA) LLC, UBS Investment Bank, SunTrust Robinson Humphrey Inc., Nomura and TPG are the leads on the deal.

Commitments are due at 5 p.m. ET on Nov. 21, the source added.

Proceeds will be used to repay an existing term loan and fund an employee share repurchase.

Creative Artists is a talent and literary agency.

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