Emerald Expositions launches $600 million term B at Libor plus 375 bps

By Sara Rosenberg

New York, July 9 – Emerald Expositions Holding Inc. launched on its call on Wednesday a $600 million covenant-light term loan B due June 17, 2020 that is talked at Libor plus 375 basis points with a 1% Libor floor and a par offer price, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch is the lead bank on the deal.

Proceeds will be used to reprice the company’s existing term loan from Libor plus 425 bps with a 1.25% Libor floor.

Commitments are due at noon ET on July 16, the source added.

Emerald is a San Juan Capistrano, Calif.-based operator of large business-to-business tradeshows.

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