Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for ABB/Con-Cise Optical Group LLC > News item |
ABB/Con-Cise finalizes OID on $48 million term loan at 99.75
By Sara Rosenberg
New York, Oct. 27 – ABB/Con-Cise Optical Group LLC firmed the original issue discount on its fungible $48 million senior secured covenant-light incremental first-lien term loan B (B1/B) due June 15, 2023 at 99.75, the midpoint of revised talk of 99.5 to par and tight of initial talk of 99.5, according to a market source.
Pricing on the loan is Libor plus 500 basis points with a 1% Libor floor, and the debt has 101 soft call protection until December 2016.
Morgan Stanley Senior Funding Inc. is the lead bank on the deal.
Proceeds will be used to repay borrowings under the company’s revolving credit facility that were used to finance an acquisition.
Closing is expected on Monday, the source added.
ABB/Con-Cise is a Coral Springs, Fla.-based optical distributor.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.