RBS International Direct Marketing shifts funds, raises pricing

By Sara Rosenberg

New York, March 11 - RBS International Direct Marketing upsized its term loan B to $150 million from $145 million, downsized its term loan A to $70 million from $75 million and increased pricing on all tranches, according to a market source.

The term loan B is now priced at Libor plus 500 basis points, up from Libor plus 475 bps, with a 1.5% Libor floor and an original issue discount of 99, the source said.

And, the term loan A and a $40 million revolver are now priced at Libor plus 400 bps, up from Libor plus 375 bps, the source continued.

Bank of America Merrill Lynch and Fifth Third Bank are the lead banks on the $260 million credit facility.

Proceeds will be used to refinance existing debt.

Allocations are expected to go out late during the week of March 14.

RBS International Direct Marketing is a direct marketing company.

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