Merrill launches $400 million term loan at Libor plus 500-525 bps

By Sara Rosenberg

New York, Sept. 12 – Merrill Corp. launched on Thursday its $400 million seven-year first-lien term loan (B2/B) with price talk of Libor plus 500 basis points to 525 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Goldman Sachs Bank USA and Credit Suisse Securities (USA) LLC are the leads on the deal.

Commitments are due on Sept. 25, the source added.

Proceeds will be used to refinance an existing term loan B and fund a dividend to shareholders.

Merrill is a St. Paul, Minn., SaaS-based provider of secure collaboration solutions for professionals.

© 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.