Emerald Expositions talks $564 million term B at Libor plus 275 bps

By Sara Rosenberg

New York, Nov. 10 – Emerald Expositions Holding Inc. is shopping its $564 million covenant-light term loan B with price talk of Libor plus 275 basis points with a step-down to Libor plus 250 bps at 2.75 times total net leverage, a 0% Libor floor and a par issue price, according to a market source.

The term loan includes 101 soft call protection for six months.

Bank of America Merrill Lynch is the lead bank on the deal that launched with a call on Thursday.

Proceeds will be used to reprice an existing term loan down from Libor plus 300 bps with a 0% Libor floor.

Emerald Expositions is a San Juan Capistrano, Calif.-based operator of business-to-business trade shows.

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