NEP Group launches $210 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, Nov. 4 – NEP Group Inc. launched on Thursday its non-fungible $210 million incremental term loan B (B3/B/B) due Oct. 19, 2025 with price talk of Libor plus 375 basis points with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The incremental term loan has 101 soft call protection for six months.

Barclays, JPMorgan Chase Bank, HSBC Securities (USA) Inc., Macquarie Capital (USA) Inc., MUFG and Mizuho are the joint bookrunners on the deal. Barclays is the administrative agent.

Commitments are due at noon ET on Nov. 16, the source added.

Proceeds will be used for general corporate purposes, including acquisitions and capital expenditures, and to pay down revolving credit facility borrowings.

NEP is a Pittsburgh-based provider of outsourced live and broadcast production solutions.

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