(Bloomberg) -- ION Analytics is tapping the leveraged loan market to reprice one of its obligations after shelving a similar transaction for a different loan last month due to market volatility.
The unit of Andrea Pignataro’s ION Group is seeking to reprice a $528 million term loan due 2028 to 3.75 percentage points over the Secured Overnight Financing Rate, offered at a discounted price of 99 cents on the dollar, according to a person who asked not to be identified because the information is private. ION is also seeking to amend a basket in its revolving credit facility, the person added.
UBS Group AG is leading the transaction. A lender call was scheduled to begin at 11 a.m. New York time, with commitments due Sept. 19 at 5 p.m.
Representatives for ION and UBS did not immediately respond to a request for comment.
ION previously tried to reprice a term loan due 2030 in August, but market volatility early in the month caused the company, along with a handful of other issuers, to pull the transaction. ION was looking to lower the margin to 3.5 to 3.75 percentage points, Bloomberg previously reported.
ION’s businesses include financial services firms like Dealogic, Fidessa Trading and Acuris, the owner of financial news platform Mergermarket. Bloomberg LP, the parent company of Bloomberg News, competes with ION in providing financial software and data.
A handful of other borrowers tapped the market Monday to reprice their obligations, with Curium Pharma and Kito Crosby launching roughly $1 billion deals each.
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