Syndigo discloses first- and second-lien term loan price talk

By Sara Rosenberg

New York, Nov. 30 – Syndigo LLC released price talk on its $375 million seven-year first-lien term loan (B2) and $160 million eight-year second-lien term loan (Caa2) with its lender call on Monday, according to a market source.

Price talk on the first-lien term loan is Libor plus 425 basis points to 450 bps with a 0.75% Libor floor and an original issue discount of 98.5, and talk on the second-lien term loan is Libor plus 775 bps to 800 bps with a 0.75% Libor floor and a discount of 98.5, the source said.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

The company’s $585 million of credit facilities also include a $50 million five-year revolver (B2).

Jefferies LLC, Deutsche Bank Securities Inc. and UBS Investment Bank are the bookrunners on the deal.

Commitments are due on Dec. 10, the source added.

Proceeds will be used to fund an investment in the company by Summit Partners.

Syndigo is a Chicago-based provider of digital product information and content solutions for the commerce ecosystem via an end-to-end SaaS platform.

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