Greenhill & Co. plans to syndicate a new $360 million secured loan under a term loan B structure. Goldman Sachs has been engaged to lead the syndication of the facility.
Consummation of the new term loan and its terms, including the final principal amount, interest rate and maturity, will depend on market and other conditions.
Greenhill is syndicating the new term loan to obtain overall terms that are more attractive than those provided in its existing $350 million secured term loan B and plans to use the proceeds from the new facility to replace its existing term loan, which will have an amortized balance of $319 million at the time of refinancing, pay fees and expenses associated with the refinancing, increase share repurchases and for general corporate purposes.
