By Paul A. Harris
Portland, Ore., June 25 – Kantar Summer Bidco B LLC priced an upsized $425 million issue of five-year senior secured notes (B2/B-) at par to yield 5½% on Friday, according to market sources.
The issue size increased from $400 million.
The yield printed at the tight end of the 5½% to 5¾% yield talk. Initial guidance was in the low 6% area.
Morgan Stanley & Co. LLC was the left bookrunner. Joint bookrunners were Goldman Sachs & Co. LLC, BofA Securities Inc., Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies & Co.
Proceeds, together with proceeds from a concurrent term loan, a shareholder contribution and cash on hand, will be used to consummate the acquisition of Numerator. The additional proceeds resulting from the $25 million upsizing of the deal will be used for general corporate purposes.
Kantar is a London-based data analytics and brand consulting company.
| Issuer: | Kantar Summer Bidco B LLC
|
| Amount: | $425 million, increased from $400 million
|
| Maturity: | Oct. 31, 2026
|
| Securities: | Senior secured notes
|
| Left bookrunner: | Morgan Stanley & Co. LLC
|
| Joint bookrunners: | Goldman Sachs & Co. LLC, BofA Securities Inc., Barclays, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Jefferies & Co.
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Spread: | 454 bps
|
| Trade date: | June 25
|
| Settlement date: | July 1
|
| Ratings: | Moody’s: B2
|
| S&P: B-
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5½% to 5¾%
|
| Marketing: | Roadshow
|
|
|
© 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.
