Advantage Sales pulls $1.83 billion equivalent term loans from market

By Sara Rosenberg

New York, March 2 – Advantage Sales & Marketing Inc. withdrew its $1.525 billion first-lien covenant-lite term loan B and $300 million equivalent euro first-lien covenant-lite term loan B from market, according to a market source.

The U.S. term loan was talked at Libor plus 475 basis points with an original issue discount of 99 and 101 soft call protection for six months.

BofA Securities Inc. was the left lead on the deal.

Proceeds were going to be used to refinance existing debt.

Advantage Sales is an Irvine, Calif.-based sales and marketing agency.

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