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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
HPS Investment Partners, Others Provide TiVo with $775MM Credit Facility
Tuesday, December 3, 2019
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Lenders/Participants
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HPS Investment Parnters [Administrative Agent, Collateral Agent]
Wells Fargo Bank [Lender]
Morgan Stanley Senior Funding [Lender]
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Structure
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$715MM Term Loan; $60MM Revolver
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Amount
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$775.000
Million
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Borrower(s)
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TiVo Corporation
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Description
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Company entered into a new $715.0 million five-year Term Loan Credit Agreement with HPS Investment Partners, LLC as administrative and collateral agent, plus a $60 million Revolving Loan Credit Agreement with Morgan Stanley Senior Funding, Inc. and Wells Fargo Bank, National Association. TiVo used the proceeds of the new Term Loan Credit Agreement to repay loans under its existing term loan B facility and add cash to the balance sheet in anticipation of the spin-off of its Product business. TiVo Corporation intends to pay-off the remaining balance of its exiting 2020 Convertible Senior Notes when they mature with cash on hand, and the Revolving Loan Credit Agreement provides additional flexibility to facilitate the separation of the two businesses. Additional transaction details not disclosed.
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Industry
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Electronics
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| Related Tags |
HPS Investment Partners, Morgan Stanley Senior Funding, Wells Fargo Bank
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ABL Advisor
Deal Tables
2024
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