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Regent Seven Seas to launch $246 million term loan B on Wednesday
By Sara Rosenberg
New York, Jan. 28 - Regent Seven Seas Cruises will hold a call at 10 a.m. ET on Wednesday to launch a $246 million term loan B that is talked at Libor plus 275 basis points to 300 bps with a 1% Libor floor and 101 soft call protection for six months, according to sources.
Deutsche Bank Securities Inc. is leading the deal.
Proceeds will be used to reprice an existing term loan B from Libor plus 350 bps with a 1.25% Libor floor.
With the repricing, the company is paying down $50 million of its existing term loan B, which is why the deal is launching with the $246 million size, sources said.
Commitments are due on Feb. 4.
Regent Seven Seas is a Miami-based cruise ship company.
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