Avison Young talks $325 million term loan at Libor plus 500 bps

By Sara Rosenberg

New York, Feb. 12 – Avison Young Inc. launched on Tuesday its $325 million seven-year covenant-light first-lien term loan with price talk of Libor plus 500 basis points with a 0% Libor floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months.

The company’s $385 million of credit facilities (B2/B) also include a $60 million revolver.

Credit Suisse Securities (USA) LLC, CIBC and Bank of America Merrill Lynch are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 26.

Proceeds will be used to help fund the recently completed acquisition of GVA, a U.K.-based real estate advisory business.

Avison Young is a Toronto-based commercial real estate services firm.

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