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Piper Jaffray to launch $150 million credit facility on Monday
By Sara Rosenberg
New York, Nov. 3 - Piper Jaffray Cos. is scheduled to hold a bank meeting on Monday in New York to launch its proposed $150 million three-year credit facility, according to a market source.
SunTrust and U.S. Bank are the joint lead arrangers on the deal.
The facility consists of s $50 million revolver and a $100 million term loan, with both tranches talked at Libor plus 275 basis points, the source said.
The revolver has a 50 bps unused fee.
Piper Jaffray is a Minneapolis-based investment bank and institutional securities firm.
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