Secretariat talks $220 million of term loans at Libor plus 475 bps

By Sara Rosenberg

New York, Dec. 1 – Secretariat International launched on Wednesday its $190 million seven-year first-lien term loan and $30 million delayed-draw first-lien term loan with price talk of Libor plus 475 basis points with a 0.75% 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 and a leverage covenant.

KeyBanc Capital Markets, Jefferies LLC and Bank of Ireland are the leads on the deal.

Commitments are due at noon ET on Dec. 15, the source added.

The company is also getting a $70 million eight-year privately placed second-lien term loan.

Proceeds will be used to help fund the acquisition of the company by JLL Continuation Fund from another JLL fund and to refinance existing debt.

Secretariat is a specialty consulting firm providing independent advisory services and expert testimony to clients involved in disputes or litigation related to construction delays or damages.

© 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.