Prospect backs acquisition of social networking site

 The secured credit line is in support of the $30 million acquisition of high school alumni social network, Classmates Inc. by private equity-backed online data resource Intelius.    

 New York-based Prospect Capital has provided a $13.5 million first lien floating rate loan to public information provider Intelius for its acquisition of Seattle-based social network Classmates Inc, a source close to the deal told Private Debt Investor.

 

Prospect declined to comment on the loan pricing but the source said the pricing was in the range of 8 to 10 percent inclusive of a Libor floor.

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