ASG launches $300 million term loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, July 12 – ASG Technologies Group Inc. launched on Wednesday its $300 million seven-year first-lien term loan (B2/B) with price talk of Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months and a maximum total net leverage covenant.

Credit Suisse Securities (USA) LLC and Bank of America Merrill Lynch are the leads on the deal.

Proceeds will be used to refinance existing debt and pay related fees and expenses.

Commitments are due at 5 p.m. ET on July 26.

ASG is a Naples, Fla.-based infrastructure software company.

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