Authentic Brands wraps $1.597B term loan repricing; terms

Authentic Brands Group LLC has completed the repricing of its $1.597 billion term loan B due September 2024 at L+325, with a 0.75% Libor floor and an issue price of par via lead arranger BofA Securities, according to sources. The term loan was quoted at 100/100.5 following allocation. The transaction lowers pricing on the facility from L+375, with a 1% Libor floor. The borrower is ABG Intermediate Holdings 2 Inc. Authentic Brands is a New York-based brand development and licensing company. BlackRock is the company's largest investor, alongside Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties' retail group and other investors. Terms: