Cision firms pricing on $974.7 million and €247.5 million term loans

By Sara Rosenberg

New York, Oct. 17 – Cision (Canyon Cos. Sarl) set pricing on its $974,650,000 covenant-light term loan B due June 2023 at Libor plus 275 basis points, the low end of the Libor plus 275 bps to 300 bps talk, and on its €247.5 million covenant-light term loan B due June 2023 at Euribor plus 300 bps, the tight end of the Euribor plus 300 bps to 325 bps talk, according to a market source.

Both term loans still have a 0% floor, a par issue price and 101 soft call protection for six months.

Deutsche Bank Securities Inc. is the lead bank on the deal.

U.S. recommitments were scheduled to be due at 4 p.m. ET on Wednesday and euro recommitments are due at noon BST on Thursday, the source added.

Proceeds will be used to reprice existing U.S. and euro term loans.

Cision is a Chicago-based software-as-a-service platform for communications professionals.

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