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Regent Seven Seas firms $246 million term loan B at Libor plus 275 bps
By Sara Rosenberg
New York, Feb. 5 - Regent Seven Seas Cruises finalized pricing on its $246 million term loan B at Libor plus 275 basis points, the tight end of the Libor plus 275 bps to 300 bps talk, according to a market source.
As before, the loan has a 1% Libor floor, a par offer price and 101 soft call protection for six months
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 sized at $246 million.
Regent Seven Seas is a Miami-based cruise ship company.
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