AlixPartners shops euro term loan B at Euribor plus 350 bps

By Sara Rosenberg

New York, May 15 – AlixPartners LLP is talking its $390 million equivalent euro covenant-lite term loan B (B2/B+) due April 2024 at Euribor plus 350 basis points with a 0% floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank and HSBC are the physical bookrunners on the deal that launched with a lender meeting in London on Monday.

Commitments are due at the close of business on May 23.

Proceeds will be used to fund a distribution to shareholders.

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

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