NEP Group launches $125 million add-on term loan B at 99.75 to par OID

By Sara Rosenberg

New York, May 1 – NEP Group Inc. launched on Tuesday its $125 million add-on term loan B (B2) due July 21, 2022 with price talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99.75 to par, according to a market source.

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

Barclays and J.P. Morgan Securities LLC are the bookrunners on the deal.

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

Proceeds will be used to pay down revolving credit facility borrowings.

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

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