Colibri changes $400 million term B talk to Libor plus 475-500 bps

By Sara Rosenberg

New York, June 15 – Colibri revised price talk on its $400 million seven-year term loan B to a range of Libor plus 475 basis points to 500 bps from Libor plus 450 bps, according to a market source.

The term loan is still talked with a 0.75% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

The company’s $430 million of credit facilities (B3/B-) also include a $30 million revolver.

RBC Capital Markets and Jefferies LLC are the arrangers on the deal.

Commitments are due at 5 p.m. ET on Wednesday, extended from noon ET on Wednesday, the source added.

Proceeds will be used to refinance existing privately placed debt.

Gridiron Capital is the sponsor.

Colibri is a St. Louis-based provider of online learning solutions for professional education.

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