Creative Artists launches $777.9 million term B at Libor plus 375 bps

By Sara Rosenberg

New York, Feb. 1 – Creative Artists Agency LLC held a lender call at 1 p.m. ET on Wednesday to launch a $777.9 million seven-year covenant-light term loan B (B2) that is talked at Libor plus 375 basis points with a 1% Libor floor and an original issue discount of 99.75, according to a market source.

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

Bank of America Merrill Lynch is the left lead bank on the deal.

Commitments are due at noon ET on Feb. 8, the source added.

Proceeds will be used to refinance an existing term loan B and to fund a distribution to shareholders.

Creative Artists is a Los Angeles-based entertainment and sports firm.

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