Regent Seven Seas cuts spread on loan repricing to Libor plus 350 bps

By Sara Rosenberg

New York, Jan. 25 - Regent Seven Seas Cruises reduced pricing on its repriced roughly $300 million term loan B to Libor plus 350 basis points from talk of Libor plus 375 bps to 400 bps, according to a market source.

The 1.25% Libor floor, par offer price and 101 soft call protection for one year were unchanged.

The repricing is taking the loan down from Libor plus 500 bps with a 1.25% Libor floor.

Deutsche Bank Securities Inc. is leading the deal.

With this transaction, lenders are getting paid out at 101 as a result of existing call protection.

Regent Seven Seas is a Miami-based cruise ship company.

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