Aimbridge firms $199 million term loan at Libor plus 475 bps

By Sara Rosenberg

New York, June 3 – Aimbridge Hospitality set pricing on its $199 million term loan B due 2026 at Libor plus 475 basis points, the low end of the Libor plus 475 bps to 500 bps talk, according to a market source.

The term loan still has a 0.75% Libor floor, a par issue price and 101 soft call protection for six months.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used to reprice an existing term loan down from Libor plus 600 bps with a 0.75% Libor floor.

Aimbridge is a Plano, Tex.-based hotel management firm.

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