4L trims term loan B to $250 million, ups spread to Libor plus 550 bps

By Sara Rosenberg

New York, April 24 - 4L Holdings downsized its term loan B to $250 million from $300 million and increased pricing to Libor plus 550 basis points from Libor plus 500 bps, according to a market source.

Also, the original issue discount was widened to 97 from 981/2, the source said.

The 1.25% Libor floor was left unchanged.

Recommitments are due on Thursday, the source added.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

4L Holdings is an electronics company.

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