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Ravn Alaska launches $95 million term loan at Libor plus 475 bps
By Sara Rosenberg
New York, June 9 – Ravn Alaska launched on Tuesday its $95 million six-year term loan with price talk of Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
The company’s $110 million credit facility also includes a $15 million five-year revolver.
BNP Paribas Securities Corp. and Keybanc Capital Markets are the leads on the deal.
Proceeds will be used to help fund the buyout of the company by J.F. Lehman & Co.
Ravn is an Anchorage, Alaska-based airline company.
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