AlixPartners to launch $170 million incremental term loan on Tuesday

By Sara Rosenberg

New York, April 23 – AlixPartners LLP is scheduled to hold a lender call at 11 a.m. ET on Tuesday to launch a fungible $170 million incremental covenant-light term loan B due April 2024, according to a market source.

Deutsche Bank Securities Inc. is the left lead bookrunner on the deal.

Pricing on the incremental term loan is Libor plus 275 basis points with a 0% Libor floor, in line with existing term loan pricing, the source said.

Original issue discount talk is not yet available.

Proceeds will be used for a dividend recapitalization.

Expected term loan ratings are B2/B+, the source added.

AlixPartners is a New York-based performance improvement, corporate turnaround and financial advisory services firm.

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