Advantage Sales firms $1.15 billion term loan at SOFR plus 425 bps

By Sara Rosenberg

New York, April 12 – Advantage Sales & Marketing Inc. finalized pricing on its $1.146 billion term loan B due Oct. 28, 2027 (BB-) at SOFR+CSA plus 425 basis points, the high end of the SOFR+CSA plus 400 bps to 425 bps talk, according to a market source.

The term loan still has a 0.75% floor, ARRC CSA of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate, a par issue price, and 101 soft call protection for six months.

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

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.

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