Acosta talks $300 million incremental term loan at Libor plus 450 bps

By Sara Rosenberg

New York, June 14 - Acosta Sales & Marketing launched on Thursday its $300 million incremental term loan with price talk of Libor plus 450 basis points with a 1.5% Libor floor and an original issue discount of 981/2, according to a market source.

The loan includes 101 soft call protection for one year, the source said.

Commitments are due at 5 p.m. ET on June 21.

Goldman Sachs & Co., Barclays Capital Inc. and Bank of America Merrill Lynch are the lead banks on the deal.

Proceeds will be used to help fund the acquisition of Mosaic Sales Solutions, a sales and merchandising, experiential marketing and interactive firm with U.S. headquarters in Dallas.

Closing is expected in July.

Acosta is a Jacksonville, Fla.-based full-service sales and marketing agency in the consumer packaged goods industry.

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