IPC Systems lifts spread on extended term loan to Libor plus 525 bps

By Sara Rosenberg

New York, March 9 - IPC Systems Inc. raised pricing on its proposed extended term loan B (B1/B-) to Libor plus 525 basis points from Libor plus 450 bps, according to a market source.

Non-extended term loan B pricing is Libor plus 225 bps.

The company is looking to extend the term loan B debt to 2017 from 2014.

As before, lenders are being offered a 10 bps amendment fee and a 15 bps extension fee.

Commitments toward the revised deal were due at 5 p.m. ET on Friday. The original commitment deadline had already expired on Thursday.

J.P. Morgan Securities LLC is the lead bank on the deal.

IPC is a Jersey City, N.J.-based provider of specialized voice and data communications and trading collaboration services for the financial markets.

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