MetroNet reveals term loan price guidance; LegalShield plans lender call

By Sara Rosenberg

New York, Aug. 24 – In the primary market on Monday, MetroNet released price talk on its incremental term loan B in connection with its lender call, and LegalShield emerged with plans to being a new deal after the Labor Day holiday weekend.

MetroNet held its lender call on Monday morning and announced original issue discount talk on its fungible $100 million incremental term loan B in the range of 99.75 to par, a market source remarked.

Like the existing term loan, the incremental term loan is priced at Libor plus 450 basis points with a 1% Libor floor. Commitments are due on Friday, the source added.

LegalShield set a lender call for 2 p.m. ET on Sept. 8 to launch a new financing, and transaction specifics will be disclosed on the date of the call, a market source said.

RBC Capital Markets and Stone Point Capital Markets are leading the arranger group.

The company currently has a $713 million first-lien term loan due May 2025 and a $180 million second-lien term loan due May 2026.

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