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Blucora finalizes $350 million term loan at Libor plus 300 bps
By Sara Rosenberg
New York, Nov. 17 – Blucora Inc. set pricing on its $350 million covenant-light first-lien term loan (B1/BB-) due May 2024 at Libor plus 300 basis points, the low end of the Libor plus 300 bps to 325 bps talk, according to a market source.
The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.
Credit Suisse Securities (USA) LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing first-lien term loan down from Libor plus 375 bps with a 1% Libor floor.
Blucora is a Bellevue, Wash.-based technology-enabled financial solutions provider focused on tax preparation and financial advisory services.
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