CM Group withdraws $635 million credit facilities from market

By Sara Rosenberg

New York, Dec. 3 – CM Group (CMFPL Aus and Finco US) pulled its $635 million of credit facilities from market, according to a market source.

The facilities consisted of a $45 million five-year revolver and a $590 million seven-year first-lien term loan talked at Libor plus 500 basis points to 525 bps with a 0.75% Libor floor, an original issue discount of 98.5 and 101 soft call protection for six months.

Jefferies LLC, CIBC, Fifth Third Bank and Golub Capital were the bookrunners on the deal.

Proceeds were going to be used to fund the combination of CM Group with Cheetah Digital and refinance the stand-alone debt at each entity.

The source said that the company now plans to upsize its current direct financing to repay Cheetah’s debt.

CM Group is a Nashville-based owner of marketing technology brands. Cheetah Digital is a Chicago-based cross channel customer engagement solution provider.

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