(Bloomberg) -- ION Analytics upsized and repriced one of its leveraged loans Friday, barely a month after scrapping such an effort on another obligation in the wake of early August’s global market volatility.
The deal size was increased 9% to $575 million, and the unit of Andrea Pignataro’s ION Group will pay down some of a euro-denominated term loan to make the new transaction leverage-neutral, according to a person familiar with the matter who asked not to be identified because the information is private.
The new loan’s margin is 3.75 percentage points over the Secured Overnight Financing Rate, issued at a discounted price of 99 cents on the dollar, the person said. The terms were unchanged from initial talk.
ION Analytics was among at least seven borrowers that shelved leveraged-loan deals in August, as factors including a shaky jobs report raised concerns globally around economic softness and market positioning. Two of those transactions have resurfaced, with SBA Communications Corp. relaunching a $2.3 billion loan repricing on Thursday.
A separate ION unit in May concluded a repricing it had pulled in early 2024, when concerns about the group’s leverage caused debt prices to fall. ION’s growth in recent years had been fueled by expensive loans to fund acquisitions.
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.
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