QVC raises pricing on $500 million term loan B to Libor plus 400 bps

By Sara Rosenberg

New York, June 23 - QVC Inc. increased pricing on its $500 million term loan B (Ba2/BBB) to Libor plus 400 basis points from original talk of Libor plus 350 bps, according to market sources.

In addition, the original issue discount on the term loan B is now talked at 98 as opposed to being guided in the 98 to 98½ range, sources continued.

Lastly, most-favored-nation language was added to the loan.

As before, the term loan B carries a 2% Libor floor.

Bank of America and JPMorgan are the lead banks on the deal.

Proceeds will be used for general corporate purposes.

Commitments are due from lenders on Friday at 3 p.m. ET.

QVC is a West Chester, Pa.-based multimedia retailer.

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