infoUSA has tapped Wells Fargo to lead its $170 million refinancing. The facility comprises a $40 million revolver and $130 million "B" loan. Price talk on the revolver and term loan is LIBOR plus 2% and LIBOR plus 23/4%, respectively.
The old facility was priced in the high 300s, a source familiar with the deal said. In addition to the price cut, the size of the term loan is being increased from $100 million. The company is also taking out its remaining portion of high-yield bonds. Bank of America led the old facility. infoUSA is a provider of business and consumer information products, database marketing services, data processing services, and sales and marketing solutions. Wells Fargo bankers declined comment and Raj Das, cfo of infoUSA, did not return calls. A B of A spokeswoman declined comment.