Crisis Prevention launches $400 million loan at SOFR plus 450-475 bps

By Sara Rosenberg

New York, March 19 – Crisis Prevention Institute Inc. (TEI Holdings Inc.) held a lender call at 2:30 p.m. ET on Tuesday to launch a $400 million seven-year first-lien term loan that is talked at SOFR plus 450 basis points to 475 bps with a 0.5% floor and an original issue discount of 99, according to a market source.

The term loan has two 25 bps pricing step-downs at 0.5x and 1x inside of first-lien net leverage, and 101 soft call protection for six months, the source said.

Expected term loan ratings are B3/B-.

Jefferies LLC, Macquarie Capital (USA) Inc. and Antares Capital are the arrangers on the deal.

Commitments are due at noon ET on April 2, the source added.

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

Crisis Prevention is a provider of crisis de-escalation training programs.

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