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Ciena shops $400 million term loan B at Libor plus 275 bps
By Sara Rosenberg
New York, Jan. 18 – Ciena Corp. is seeking a $400 million term loan B that is talked at Libor plus 275 basis points with a 0.75% Libor floor and an original issue discount of 99.75 to 99.875, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Bank of America Merrill Lynch and Deutsche Bank Securities Inc. are the leads on the deal.
Commitments are due at noon ET on Jan. 25, the source added.
Proceeds will be used to refinance existing debt.
Ciena is a Hanover, Md.-based supplier of communications networking equipment and software.
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