Ahead DB launches $631 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, April 26 – Ahead DB Holdings LLC launched on Monday its roughly $631 million first-lien term loan (B1/B+) with price talk of Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets, Barclays, Deutsche Bank Securities Inc., KKR Capital Markets, Macquarie Capital (USA) Inc., Truist, Regions Bank, Credit Suisse Securities (USA) LLC, TD Securities (USA) LLC and PNC Bank are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Wednesday.

Proceeds will be used to reprice an existing first-lien term loan that is being paid down from $785 million with a portion of the proceeds from a $400 million senior notes offering. Current pricing on the first-lien term loan is Libor plus 500 bps with a 1% Libor floor.

Lenders will be paid out at the existing 101 soft call premium.

Centerbridge Partners and Berkshire Partners are the sponsors.

Ahead DB is a Chicago-based IT solutions provider of enterprise hardware and software.

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