Artera Services to launch $740 million term loan on Thursday

By Sara Rosenberg

New York, Jan. 24 – Artera Services LLC is set to hold a lender call at 10 a.m. ET on Thursday to launch a $740 million seven-year first-lien term loan, according to a market source.

UBS Investment Bank, BofA Securities Inc., BMO Capital Markets, BNP Paribas Securities Corp., Citizens, Deutsche Bank Securities Inc., Jefferies LLC, Mizuho, MUFG and PNC are the arrangers on the deal. Credit Suisse is the administrative agent.

Price talk on the term loan is SOFR plus 500 basis points with an original issue discount of 98 to 99, the source said.

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

Commitments are due at 10 a.m. ET on Feb. 8, the source added.

Proceeds will be used with $740 million of senior secured first priority notes, cash from the balance sheet, a sponsor first-lien PIK term loan and a sponsor contribution to refinance existing first- and second-lien term loans, to repay borrowings outstanding under the company’s receivables facility, to redeem existing notes in full, and to pay related fees and expenses.

Artera is an Atlanta-based provider of integrated infrastructure services serving utilities and midstream operators in the natural gas market.

© 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.