| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers M > Headlines for Merlin Entertainments plc > News item |
Merlin Entertainments sets price talk on U.S. and euro term loans
By Sara Rosenberg
New York, Oct. 7 – Merlin Entertainments plc is talking its £941 million equivalent U.S. seven-year covenant-lite term loan B at Libor plus 325 basis points to 350 bps and its £1,252,000,000 equivalent euro seven-year covenant-lite term loan B at Euribor plus 300 bps to 325 bps, according to a market source.
Both term loans are talked with a 0% floor, an original issue discount of 99.5 and 101 soft call protection for six months, the source said.
The company is also getting a $172.5 million delayed-draw term loan.
BofA Securities Inc., Deutsche Bank Securities Inc., Barclays, HSBC, Mizuho, UniCredit, SMBC, Bank of China and Santander are the leads on the deal, with BofA the left lead on the U.S. loan and Deutsche the left lead on the euro loan.
Bank meetings took place in New York and London last week for the loans but price talk had been unavailable.
Proceeds will be used with £635 million equivalent of notes to help fund the buyout of the company by Kirkbi, Blackstone and Canada Pension Plan Investment Board.
Merlin is a Poole, England-based operator of hotels and holiday attractions.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.