Rovi firms pricing on $540 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, April 5 - Rovi Corp. finalized the spread on its $540 million term loan B due March 2019 at Libor plus 275 basis points, the wide end of the Libor plus 250 bps to 275 bps talk, according to a market source.

As before, the loan has a 0.75% Libor floor, an original issue discount of 99¾ and 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds are being used to refinance an existing term loan that is priced at Libor plus 300 bps with a 1% Libor floor.

Rovi is a Santa Clara, Calif.-based provider of digital entertainment services, including interactive program guides, licensing technology, media recognition technology and content protection.

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