Catalina trims term loan to $775 million-$790 million, raises price talk

By Sara Rosenberg

New York, Oct. 3 - Catalina Marketing Corp. downsized its term loan to a range of $775 million to $790 million from $955 million and increased price talk to Libor plus 400 basis points to 425 bps from Libor plus 350 bps to 375 bps, according to a market source.

As before, the term loan has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, SunTrust Robinson Humphrey Inc., BMO Capital Markets and GE Capital Markets are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

As a result of the term loan downsizing, the company is leaving opco notes in place, the source added.

Catalina Marketing is a St. Petersburg, Fla.-based provider of precision marketing services.

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