Creative Artists wraps $1.15 billion term loan B at discount of 99.25

By Sara Rosenberg

New York, Nov. 25 – Creative Artists Agency (CAA Holdings LLC) completed syndication of its $1.15 billion seven-year covenant-lite term loan B at an original issue discount of 99.25, tighter than initial talk of 99, according to a market source.

Pricing on the term loan is Libor plus 375 basis points with a 0% Libor floor.

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

The company’s $1,275,000,000 of credit facilities (B2/B+) also include a $125 million revolver.

BofA Securities Inc., Mizuho, Credit Suisse Securities (USA) LLC, UBS Investment Bank, SunTrust Robinson Humphrey Inc., Nomura and TPG are the leads on the deal.

Proceeds will be used to repay an existing term loan and fund an employee share repurchase.

Creative Artists is a talent and literary agency.

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