Integrity Marketing sets first- and second-lien term loan talk

By Sara Rosenberg

New York, Oct. 30 – Integrity Marketing announced price talk on its $260 million first-lien term loan, $50 million first-lien delayed-draw term loan, $115 million second-lien term loan and $15 million delayed-draw second-lien term loan in connection with its bank meeting on Tuesday, according to a market source.

Price talk on the first-lien term loan debt is Libor plus 425 basis points with a 0% Libor floor and an original issue discount of 99.5, and talk on the second-lien term loan debt is Libor plus 825 bps with a 0% Libor floor and a discount of 99, the source said.

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

The company’s $460 million of credit facilities also include a $20 million revolver.

Antares Capital is the lead on the deal.

Commitments are due on Nov. 13, the source added.

Proceeds will be used to refinance existing debt and to fund a distribution to existing shareholders.

Integrity Marketing, a portfolio company of HGGC, is a Dallas-based marketer and distributor of senior health and life insurance products.

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