Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers V > Headlines for Ventia Finco Pty Ltd. > News item |
Ventia finalizes $362.4 million term loan B at Libor plus 350 bps
By Sara Rosenberg
New York, March 21 – Ventia Finco Pty Ltd. firmed pricing on its roughly $362.4 million covenant-light term loan B due May 21, 2022 at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.
The term loan still has a 1% Libor floor and an original issue discount of 99.5 on new money.
Allocations went out on Tuesday, the source said.
Barclays, ANZ, Goldman Sachs, Credit Suisse and JPMorgan are the bookrunners on the deal.
Proceeds will be used with an Australian dollar covenant-light term loan B due May 21, 2022 to reprice an existing A$707 million term loan B, to pay a distribution to shareholders and to put cash on the balance sheet for future acquisitions.
Existing lenders were offered a 25 bps amendment fee.
Ventia is an Australian-based infrastructure services company.
© 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.