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Deluxe Entertainment talks $75 million term loan at Libor plus 575 bps
By Sara Rosenberg
New York, Oct. 13 – Deluxe Entertainment Services Group Inc. launched on Thursday its non-fungible $75 million incremental first-lien term loan with price talk of Libor plus 575 basis points with a 1% Libor floor and an original issue discount of 98, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Macquarie Capital (USA) Inc. is the lead on the debt.
Commitments are due on Oct. 20, the source added.
Proceeds will be used to fund an acquisition and add cash to the balance sheet.
Deluxe is a Los Angeles-based provider of digital asset creation, management and distribution services.
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