Stats finalizes discount on $400 million term loan at 97.5

By Sara Rosenberg

New York, May 22 – Stats LLC set the original issue discount on its $400 million seven-year covenant-lite first-lien term loan B (B2/B-) at 97.5, the middle of the revised talk of 97 to 98 and wide of initial talk of 99, according to a market source.

Pricing on the term loan is Libor plus 525 basis points with a 0% Libor floor.

The term loan has 101 soft call protection for one year and amortization of 1% per annum.

Earlier in syndication, the spread on the term loan was increased from talk in the range of Libor plus 450 bps to 475 bps and the call protection was extended from six months.

The company is also getting a £50 million five-year revolving credit facility and a $140 million privately placed second-lien term loan.

Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch, HSBC Bank USA, Mizuho Bank, Barclays and Macquarie Capital (USA) Inc. are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to fund the acquisition of Perform, a London-based sports content company, from DAZN Group and to pay fees and expenses related to the transaction.

The acquisition of Perform was enabled by an investment from Vista Equity Partners.

Closing is expected in the second half of this year, subject to customary conditions and regulatory approvals.

Stats is a Chicago-based sports data, technology, statistics and content company.

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