Boyd talks $125 million incremental term loan at discount of 96

By Sara Rosenberg

New York, July 11 – Boyd Corp. (LTI Holdings Inc.) is shopping its non-fungible $125 million seven-year incremental first-lien term loan with original issue discount talk of 96, according to a market source.

As previously reported, price talk on the incremental term loan is Libor plus 475 basis points with step-downs based on leverage and an initial public offering, and a 0% Libor floor.

J.P. Morgan Securities LLC is the lead on the deal that launched with a lender call on Wednesday. RBC Capital Markets Corp. is the administrative agent.

Proceeds will be used to fund the acquisition of Lytron Inc. and to pay related fees and expenses.

Commitments are due at noon ET on Wednesday.

Boyd is a Pleasanton, Calif.-based provider of highly engineered thermal management and environmental sealing solutions.

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