Consilio launches $1.01 billion term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, April 21 – Consilio (Skipoma Merger Sub Inc.) launched on Wednesday its $1.01 billion seven-year covenant-lite first-lien term loan (B2/B-) with price talk of Libor plus 400 basis points to 425 bps with a 0.5% Libor floor and an original issue discount of 99, according to a market source.

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

Credit Suisse Securities (USA) LLC, Stone Point, BofA Securities Inc., KKR Capital Markets, Truist, Blackstone and Goldman Sachs Bank USA are the arrangers on the deal.

Commitments are due at 5 p.m. ET on May 4, the source added.

The company is also getting a $300 million privately placed second-lien term loan.

Proceeds will be used to help fund the acquisitions of Consilio from GI Partners and Xact Data Discovery from JLL Partners by Stone Point Capital LLC and Aquiline Capital Partners LLC, and merger of the two companies.

Closing is subject to customary conditions, including regulatory approval.

Consilio is a Washington, D.C.-based provider of eDiscovery, document review, risk management and legal consulting services. Xact Data is a Mission, Kan.-based provider of eDiscovery, data management and managed review services.

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