Weather ups second-lien term loan to $625 million, tightens OID to 99

By Sara Rosenberg

New York, June 13 - Weather Co. (TWCC Holding Corp.) lifted its 71/2-year second-lien covenant-light term loan (B3/CCC+) to $625 million from $600 million and set the original issue discount at 99, tight of the 98 to 98½ talk, according to a market source.

Pricing on the loan is still Libor plus 600 basis points with a 1% Libor floor, and there is still call protection of 102 in year one and 101 in year two.

Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corp., Mizuho Securities USA Inc. and Natixis are leading the deal.

Proceeds will be used to fund a dividend.

Weather is an Atlanta-based media company devoted to bringing weather news via television, internet and mobile devices.

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