IMG Worldwide widens talk on $300 million term loan B to Libor plus 500 bps to 525 bps

By Sara Rosenberg

New York, May 27 - IMG Worldwide Inc. widened price talk on its $300 million five-year term loan B (Ba2/B+) to Libor plus 500 basis points to 525 bps from just Libor plus 500 bps, and increased the original issue discount to 97 from 98, according to a market source.

In addition, the Libor floor was raised to 2% from 1.75% and 101 call protection for two years was added.

JPMorgan and Deutsche Bank are the lead banks on the deal.

Proceeds will be used to refinance existing debt and for general corporate purposes.

IMG is a New York-based provider of sports and event marketing and management services.

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