Screenvision flexes $175 million term loan to Libor plus 475 bps

By Sara Rosenberg

New York, June 27 – Screenvision LLC lifted pricing on its $175 million seven-year covenant-light first-lien term loan (B1/B) to Libor plus 475 basis points from talk in the Libor plus 400 bps area, according to a market source.

Also, the original issue discount on the term loan was revised to 99 from 99.5 and the 101 soft call protection was extended to one year from six months, the source said.

The term loan still has a 0% Libor floor.

Included in the loan is 50 bps MFN for life.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source added.

Allocations are expected on Thursday.

Proceeds will be used to help fund the acquisition of a controlling stake in the company by Abry Partners.

As part of the agreement, the company’s existing owners, Shamrock Capital and AMC Entertainment, will maintain minority stakes.

Closing is expected this summer.

Screenvision is a New York-based provider of cinema advertising, on-screen advertising, in-lobby promotions and integrated marketing programs.

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