TCW Group firms $599 million term loan B at par issue price

By Sara Rosenberg

New York, May 25 – TCW Group finalized the issue price on its $599 million term loan B at par, the tight end of the 99.875 to par talk, according to a market source.

As before, pricing on the loan is Libor plus 175 basis points with a 0% Libor floor and the debt has 101 soft call protection for six months.

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

Proceeds will be used to reprice an existing term loan B.

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

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