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4L Technologies tightens OID on $110 million add-on term loan to 99¼
By Sara Rosenberg
New York, June 30 – 4L Technologies Inc. modified the original issue discount on its $110 million add-on covenant-light term loan B to 99¼ from 99, according to a market source.
The add-on is priced at Libor plus 450 basis points with a 1% Libor floor, in line with the existing term loan B.
Bank of America Merrill Lynch and GE Capital Markets are the leads on the deal.
Proceeds will be used to fund the acquisition of MSE, a producer of OEM-alternative printer cartridges.
4L Technologies is a Hoffman Estates, Ill.-based printer cartridge and mobile phone remanufacturer.
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