Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for TEI Holdings Inc. > News item |
Crisis Prevention sets $400 million term loan at SOFR plus 475 bps
By Sara Rosenberg
New York, April 2 – Crisis Prevention Institute Inc. (TEI Holdings Inc.) finalized pricing on its $400 million seven-year first-lien term loan (B3/B-) at SOFR plus 475 basis points, the high end of the SOFR plus 450 bps to 475 bps talk, according to a market source.
In addition, the original issue discount on the term loan was tightened to 99.5 from 99 and portability was removed, the source said.
The term loan still has two 25 bps step-downs at 0.5x and 1x inside of first-lien net leverage, a 0.5% floor and 101 soft call protection for six months.
Jefferies LLC, Macquarie Capital (USA) Inc. and Antares Capital are the arrangers on the deal.
Recommitments were scheduled to be due at 4 p.m. ET on Tuesday, 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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.