MediMedia sets talk on first- and second-lien term loans with launch

By Sara Rosenberg

New York, April 8 - MediMedia USA Inc. revealed price talk on its $210 million first-lien term loan (B2) and $100 million second-lien term loan (Caa2) with its Monday afternoon bank meeting, according to a market source.

The first-lien term loan is talked at Libor plus 650 basis points to 675 bps with a 1.25% Libor floor and an original issue discount of 98, and the second-lien term loan is talked at Libor plus 1,050 bps to 1,100 bps with a 1.25% floor and a discount of 97, the source said.

Included in the first-lien term loan is 101 soft call protection for one year, and the second-lien term loan has call protection of 103 in year one, 102 in year two and 101 in year three.

The company's $335 million credit facility also provides for a $25 million revolver (B2).

Commitments are due on April 19, the source added.

Goldman Sachs & Co., Jefferies Finance LLC and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

MediMedia is a Yardley, Pa.-based specialty health care communications, publishing and medical education company.

© 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.