TCW Group withdraws $354 million term loan B repricing from market

By Sara Rosenberg

New York, June 7 - TCW Group (Clipper Acquisitions Corp.) pulled the repricing of its $354 million term loan B due February 2020 due to current market conditions, according to a market source.

J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Bank of America Merrill Lynch were the lead banks on the deal.

The term loan B repricing was talked at Libor plus 200 basis points to 225 bps with a 0.75% Libor floor and a par offer price, and included in the deal was 101 soft call protection for six months.

TCW is a Los Angeles-based asset management firm that specializes in fixed-income, world equity and alternative markets.

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