Advantage Sales launches $1.15 billion loan at SOFR plus 400-425 bps

By Sara Rosenberg

New York, April 8 – Advantage Sales & Marketing Inc. was scheduled to hold a lender call at noon ET on Monday to launch a $1.146 billion term loan B due Oct. 28, 2027 that is talked at SOFR+CSA plus 400 basis points to 425 bps with a 0.75% floor and a par issue price, according to a market source.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

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

BofA Securities Inc. is the left lead arranger on the deal.

Signature pages are due at noon ET on Thursday and commitments are due at 5 p.m. ET on Thursday, the source added.

Proceeds will be used to reprice the company’s existing $1.146 billion term loan B due Oct. 28, 2027 down from SOFR+ARRC CSA plus 450 bps with a 0.75% floor.

Advantage Sales is an Irvine, Calif.-based provider of outsourced sales and marketing services to consumer goods manufacturers and retailers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.