FTD gets $200 million term loan priced at Libor plus 175 bps

By Sara Rosenberg

New York, Sept. 23 – FTD Cos. Inc. amended and restated its credit facility to get a $200 million five-year term loan with initial pricing of Libor plus 175 basis points, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

Pricing on the loan can range from Libor plus 150 bps to 250 bps based on net leverage.

Bank of America Merrill Lynch is the administrative agent on the deal that was completed on Sept. 19.

Quarterly amortization on the term loan is 2.5%.

Proceeds were used to repay some revolving credit facility borrowings.

FTD is a Downers Grove, Ill.-based floral and gifting company.

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