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Zuffa $100 million term loan talked at Libor plus 500 bps to 550 bps
By Sara Rosenberg
New York, Oct. 7 - Zuffa LLC's $100 million senior secured incremental term loan (Ba3/BB-) is being talked at Libor plus 500 basis points to 550 bps with a 2% Libor floor, according to a market source.
In addition, the loan is being offered to investors at an original issue discount of 97.
Deutsche Bank is the lead bank on the deal that was launched last Thursday, but didn't see the emergence of price talk until now.
Proceeds will be used to repay revolving credit facility borrowings and to fund a dividend.
Zuffa is the Las Vegas-based company that owns the Ultimate Fighting Championship brand.
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