Extreme Reach launches $410 million term B at Libor plus 625-650 bps

By Sara Rosenberg

New York, Oct. 30 – Extreme Reach Inc. launched on Tuesday its $410 million term loan B (B-) with price talk of Libor plus 625 basis points to 650 bps with a 0% Libor floor and an original issue discount of 98.5 to 99, according to a market source.

The term loan has call protection of 102 in year one and 101 in year two, a leverage covenant, and amortization of 2.5% in years one and two, and 5% thereafter, the source said.

The company’s $440 million of credit facilities also include a $30 million revolver (BB-).

SunTrust Robinson Humphrey Inc., Credit Suisse Securities (USA) LLC and KKR Capital Markets are the joint lead arrangers on the deal.

Commitments are due on Nov. 14, the source added.

Proceeds will be used to refinance existing bank debt.

Extreme Reach is a Needham, Mass.-based video platform for integrated TV, online and mobile advertising.

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