Technicolor launches term loan B at Libor/Euribor plus 475-500 bps

By Sara Rosenberg

New York, June 13 - Technicolor (Tech Finance & Co SCA) launched its $645 million and €250 million seven-year term loan B (B3) with price talk of Libor/Euribor plus 475 basis points to 500 bps with a 1.25% floor and an original issue discount of 99, according to a market source.

The loan has soft call protection of 102 for one year then 101 for an additional six months.

A bank meeting to launch the transaction to U.S. investors took place on Thursday, and there will be a bank meeting in London for European investors on Tuesday.

J.P. Morgan Securities LLC, Goldman Sachs Bank USA and Morgan Stanley Senior Funding Inc. are the bookrunners on the deal.

Proceeds, along with $330 million of senior notes, will be used to refinance existing senior secured debt.

Commitments are due on June 25.

Closing is expected in July.

Technicolor is a technology company focused on the media and entertainment sector.

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