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Authentic Brands revises $400 million term loan OID to 99.875
By Sara Rosenberg
New York, Jan. 28 – Authentic Brands Group LLC (ABG Intermediate Holdings 2 LLC) tightened the original issue discount on its $400 million incremental term loan (B1) to 99.875 from talk in the range of 99.25 to 99.5, according to a market source.
Pricing on the term loan is Libor plus 350 basis points.
BofA Securities Inc. is the lead bank on the deal.
Proceeds will be used to refinance the company’s second-lien term loan.
Authentic Brands is a New York-based acquirer and manager of consumer brands in the fashion, sports and celebrity/entertainment sectors.
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