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Landmark launches $392.6 million term B at Libor plus 375-400 bps
By Sara Rosenberg
New York, Nov. 15 - Landmark Aviation launched on Friday its $392.6 million senior secured term loan B due October 2019 with price talk of Libor plus 375 basis points to 400 bps with a 1% Libor floor and an offer price of 99½ to par on the new money, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Of the total term loan B amount, $317.6 million is for a repricing of the existing term B and $75 million is a fungible add-on.
Morgan Stanley Senior Funding Inc., Barclays and RBC Capital Markets are the joint lead arrangers on the deal.
Commitments/amendment consents are due at 5 p.m. ET on Thursday, the source added.
Landmark Aviation is a Houston-based provider of FBO, MRO and aircraft charter and management services.
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