Consilio eyes $370M add-on 1st-lien term loan to finance acquisition

Consilio LLC is looking to add on $370 million to its first-lien term loan to finance a tuck-in acquisition, according to sources. The deal will launch through a Credit Suisse-led arranger group with a lender call at 2 p.m. on Nov. 15, and commitments are due by 5 p.m. on Nov. 23.

The add-on will be fungible with the existing first-lien term loan due May 2028 that is priced at L+400, with a 0.5% Libor floor. Note that the existing 101 soft call protection rolls off on Nov. 14.

Investors are being told to expect facility ratings of B-/B2, with a 3 recovery rating from S&P Global Ratings, and corporate ratings of B-/B3, with stable outlooks.

The issuer placed the existing first-lien term loan in April to back the acquisition and merger of Consilio and Xact Data Discovery by Stone Point Capital and Aquiline Capital Partners. Another $160 million was tacked on in September for an acquisition, bringing the total outstanding at the time to approximately $1.17 billion. Consilio also has a privately placed $300 million second-lien term loan due 2029 as well as a $75 million revolver due 2026.

Consilio is a global provider of eDiscovery, document review, risk management and legal consulting services.