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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Deutsche Bank Agents $75MM Incremental Credit Facility for Cision
Friday, December 15, 2017
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Lenders/Participants
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Deutsche Bank AG New York Branch [Administrative Agent, Collateral Agent]
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Structure
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Incremental Term Loan
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Amount
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$75.000
Million
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Borrower(s)
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Cision Ltd.
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Description
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The Incremental Amendment provides for an incremental $75 million dollar-denominated term loan facility (the "Incremental Facility"). The proceeds from the Incremental Facility will be used for general corporate purposes, working capital purposes and investments, which may include one or more strategic acquisitions. The Company is currently in active negotiations with respect to two acquisitions. Interest is charged on the Incremental Facility, at the Borrower's option, at a rate based on (1) the adjusted LIBOR (a rate equal to the London interbank offered rate adjusted for statutory reserves) or (2) the alternate base rate (a rate that is highest of the (i) Deutsche Bank AG, New York Branch's prime lending rate, (ii) the overnight federal funds rate plus 50 basis points or (iii) the one month-adjusted LIBOR plus 1%), in each case, plus an applicable margin. The margin applicable to loans under the Incremental Facility bearing interest at the alternate base rate is 3.25%; the margin applicable to loans under the Incremental Facility bearing interest at the adjusted LIBOR is 4.25%, provided that each such rate is reduced by 25 basis points if the first lien net leverage ratio of Canyon Companies S.à r.l. and its restricted subsidiaries under the Credit Facility is less than or equal to 4.00:1.00 at the end of the most recent fiscal quarter.
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Industry
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Technology
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| Related Tags |
Deutsche Bank AG New York Branch
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ABL Advisor
Deal Tables
2024
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