Securus sets first- and second-lien term loan talk with launch

By Sara Rosenberg

New York, April 4 - Securus Technologies Inc. released price talk on its $335 million seven-year first-lien term loan (B2) and $155 million eight-year second-lien term loan (Caa2) with its launch on Thursday, according to a market source.

The first-lien term loan is talked at Libor plus 375 basis points to 400 bps with a 1.25% Libor floor and an original issue discount of 99, and the second-lien term loan is talked at Libor plus 775 bps to 800 bps with a 1.25% Libor floor and a discount of 981/2, the source said.

Included in the first-lien term loan is 101 soft call protection for six months, and the second-lien term loan has call protection of 103 in year one, 102 in year two and 101 in year three.

The company's $540 million credit facility also provides for a $50 million five-year revolver (B2).

Commitments are due on April 18, the source added.

Deutsche Bank Securities Inc. and BNP Paribas Securities Corp. are the lead banks on the deal.

Proceeds will be used to help fund the company's buyout by ABRY Partners.

Securus is a Dallas-based provider of inmate communications services and investigative technologies.

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