Advantage Solutions unit enters new USD 1.04 billion term loan facility

Reuters
Mar 12
Advantage Solutions unit enters new USD 1.04 billion term loan facility

Advantage Solutions said its subsidiary Advantage Sales & Marketing entered into a new secured first lien term loan facility of about USD 1.04 billion. The term loan bears floating interest at adjusted SOFR plus a 6% margin or, at the company’s option, a base rate plus a 5% margin. Advantage Sales & Marketing also amended its asset-based revolving credit facility, which provides up to USD 500 million subject to borrowing base capacity. The amended revolving facility matures on the earlier of Jan. 18, 2030 and 91 days before the earlier of the new term loan maturity and the maturity of the new senior secured notes.

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