FTD launches $265 million term loan at Libor plus 325-350 bps

By Sara Rosenberg

New York, May 17 - FTD launched its $265 million term loan on Tuesday with price talk of Libor plus 325 basis points to 350 bps with a 1.25% Libor floor and an original issue discount of 991/2, according to a market source.

The company's $315 million credit facility also includes a $50 million revolver.

Wells Fargo Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

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

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