Advantage Sales finalizes $150 million add-on loan at 99½ OID

By Sara Rosenberg

New York, April 1 – Advantage Sales & Marketing LLC set the original issue discount on its fungible $150 million add-on term loan (B) at 99½, the tight end of the 99 to 99½ talk, according to a market source.

The add-on term loan is priced at Libor plus 325 basis points with a 1% Libor floor, in line with the existing term loan.

Included in the add-on term loan is 101 soft call protection for six months, and the existing term loan will get the same call protection.

Jefferies Finance LLC is the lead on the deal.

Commitments are due at noon ET on Thursday.

Allocations are expected early next week, the source added.

Proceeds will be used for acquisition financing.

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

© 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.