Confie Seguros sets talk on $437 million credit facility with launch

By Sara Rosenberg

New York, Oct. 17 - Confie Seguros revealed price talk on its $437 million credit facility in connection with its Wednesday bank meeting, according to a market source.

The $75 million revolver is talked at Libor plus 500 basis points with a 100 bps upfront fee, the $252 million first-lien term loan is talked at Libor plus 525 bps with a 1.25% Libor floor and an original issue discount of 98½ to 99, and the $110 million second-lien term loan is talked at Libor plus 900 bps with a 1.25% Libor floor and an original issue discount of 98, the source said.

The first-lien term loan has 101 soft call protection for one year, and the second-lien term loan has call protection of 103 in year one, 102 in year two and 101 in year three.

RBC Capital Markets and GE Capital Markets are leading the deal.

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

Confie Seguros is a New York-based provider of personal insurance.

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