Kantar changes $500 million term loan talk to Libor plus 450-475 bps

By Sara Rosenberg

New York, June 24 – Kantar revised price talk on its $500 million first-lien term loan B (B2/B-) due December 2026 to a range of Libor plus 450 basis points to 475 bps from Libor plus 500 bps, according to a market source.

The term loan is still talked with a 0.75% Libor floor, an original issue discount of 99, 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., BofA Securities Inc., Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies LLC are the bookrunners on the deal.

Commitments were scheduled to be due at the close of business on Thursday for U.S. accounts and are due at 8 a.m. ET on Friday for European accounts.

Proceeds will be used to help fund the acquisition of Numerator.

Other funds for the transaction will come from $400 million of senior secured notes, a $350 million shareholder equity contribution and $150 million of cash on the balance sheet.

Pro forma for the transaction, senior secured net debt is expected to be 3.9x and secured net debt is expected to be 4.5x.

Kantar is a London-based data analytics and brand consulting group. Numerator is a Chicago-based, tech-driven consumer and market intelligence company.

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