NEP Group allocates $210M add-on term loan wide of talk; terms

Investors have received allocations of the $210 million nonfungible first-lien term loan due October 2025 for NEP Group that priced wide of talk at L+400, with a 0.50% Libor floor and an original issue discount of 99 via a Barclays-led arranger group, according to sources. Proceeds from the deal will be used for general corporate purposes, including M&A and capital expenditures, and to pay down amounts outstanding under the company's revolver. NEP Broadcasting LLC, backed by Carlyle and based in Pittsburgh, provides outsourced media services to television and cable networks to support live events, such as the Super Bowl and the Olympics, as well as entertainment shows.

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