Ankura Consulting completes $465M 1st-lien, $175M 2nd-lien term loans; terms

Ankura Consulting Group LLC has completed its $465 million first-lien and upsized $175 million second-lien term loans that will be used to refinance existing debt and add cash to the balance sheet, according to sources. The seven-year covenant-lite first-lien loan priced at L+450, with a 0.75% Libor floor and an original issue discount of 99. The eight-year covenant-lite second-lien loan, which was upsized by $25 million during syndication, priced at L+800, with a 0.75% Libor floor and an OID of 98.5. There were a number of documentation changes that were made during syndication. Deutsche Bank is left lead arranger on the first-lien tranche, while Jefferies is left lead arranger on the second-lien tranche. Ankura Consulting Group, backed by Madison Dearborn Partners, provides management consulting and expert services to businesses in a wide variety of industries. Terms: