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RealD to launch $325 million of term loans on Thursday afternoon
By Sara Rosenberg
New York, Oct. 22 – RealD Inc. is scheduled to hold a bank meeting at 2:15 p.m. ET on Thursday to launch $325 million of senior secured term loans, according to a market source.
The company will be holding a 3D screening at 2 p.m. ET on Thursday and an additional 3D screening upon completion of the bank meeting.
Jefferies LLC is the lead arranger on the deal.
The debt consists of a $250 million five-year first-lien term loan and a $75 million six-year second-lien term loan, the source said.
The first-lien term loan has 101 soft call protection for one year. Call protection on the second-lien term loan is still to be determined.
Proceeds will be used to refinance existing debt.
RealD is a Beverly Hills, Calif.-based licensor of 3D and other visual technologies for use in the cinema industry.
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