FoxCo Acquisition seeks repricing of $444.7 million term loan

By Sara Rosenberg

New York, March 1 - FoxCo Acquisition Sub LLC is looking to reprice its $444.7 million term loan due July 2015 at Libor plus 375 basis points with a 1% Libor floor, according to a market source.

The loan is being offered at an original issue discount of 99¾ and includes 101 soft call protection for one year.

Pricing on the existing term loan is Libor plus 425 bps with a 3.25% Libor floor through Sept. 30. It was sold at a discount of 97 when it was obtained in 2008 to fund the acquisition of eight FOX network affiliated television stations from News Corp.

Deutsche Bank Securities Inc., UBS Securities LLC and Bank of America Merrill Lynch are the lead banks on the deal that launched with a call on Monday.

FoxCo is a Fort Wright, Ky.-based owner and operator of television stations.

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