Liquidnet revises commitment timeline; Viewpoint, SnapAV, CPI International ready new deals

By Sara Rosenberg

New York, July 5 – In the primary loan market on Wednesday, Liquidnet Holdings Inc. accelerated the commitment deadline on its term loan and Viewpoint Inc., SnapAV and CPI International Inc. joined the near-term calendar.

Liquidnet moved up the commitment deadline on its $200 million seven-year senior secured first-lien term loan (B1/B+) to 1 p.m. ET on Friday from Monday, a market source remarked.

Talk on the term loan is Libor plus 475 bps to 500 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Jefferies LLC is leading the deal that will be used to refinance an existing term loan, to fund the acquisition of OTAS Technologies and for general corporate purposes, including capital expenditures and potential future acquisitions.

Liquidnet is a New York-based regulated agency securities broker that operates a trading platform connecting asset managers to trade equities and fixed income securities. OTAS is a London-based analytics platform that delivers actionable market intelligence and context to institutional traders and portfolio managers.

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