Veritas talks U.S. and euro loans at Libor/Euribor plus 525-550 bps

By Sara Rosenberg

New York, Aug. 4 – Veritas Technologies launched on Tuesday its $1.55 billion five-year term loan B and €690 million five-year term loan B with price talk of Libor/Euribor plus 525 basis points to 550 bps with a 1% floor and an original issue discount of 98 to 98.5, according to a market source.

BofA Securities Inc. and Morgan Stanley Senior Funding Inc. are the leads on the deal (B2/B).

Commitments are due at noon ET on Aug. 12, the source added.

Proceeds will be used to refinance existing debt.

Veritas is a Santa Clara, Calif.-based provider of data protection and availability.

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