Aegis Toxicology reveals first- and second-lien loan talk with launch

By Sara Rosenberg

New York, Feb. 4 - Aegis Toxicology Corp. released price talk on its $195 million first-lien seven-year term loan B (B1/B) and its $98 million 71/2-year second-lien term loan (Caa1/CCC+) in connection with its bank meeting on Tuesday, according to a market source.

The first-lien term loan is talked at Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99, and the second-lien term loan is talked at Libor plus 850 bps to 875 bps with a 1% Libor floor and a discount of 981/2, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has hard call protection of 102 in year one and 101 in year two.

The company's $333 million senior credit facility also includes a $40 million five-year revolver.

Commitments are due on Feb. 19, the source added.

Morgan Stanley Senior Funding Inc., SunTrust Robinson Humphrey Inc. and Fifth Third Bank are the lead banks on the deal.

Proceeds will be used to help fund the buyout of the company by ABRY Partners.

Aegis is a Nashville, Tenn.-based forensic toxicology and health care sciences laboratory.

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