Advantage Sales launches $350 million incremental term loan B-2

By Sara Rosenberg

New York, Feb. 8 – Advantage Sales & Marketing Inc. held a lender call at 5 p.m. ET on Thursday to launch a fungible $350 million incremental covenant-light term loan B-2 (B) due July 25, 2021, according to a market source.

The term loan has amortization of 1% per annum.

Bank of America Merrill Lynch, Credit Suisse Securities (USA) LLC, CB&T and Jefferies LLC are the arrangers on the deal, and other arrangers to be announced may join the transaction.

Proceeds will be used to consolidate Daymon Worldwide into Advantage Sales to create a single credit group by paying off the outstanding Daymon credit facilities and to provide funding for acquisitions under letters of intent.

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

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