E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 9/20/2017 in the Prospect News Bank Loan Daily.

Hanjin details $600 million three-year term loan via Morgan Stanley

By Paul A. Harris

Portland, Ore., Sept. 20 – Hanjin International Corp. plans to put in place a $600 million three-year senior secured term loan B, according to a market source.

Morgan Stanley is the administrative agent.

The deal comes with an interest rate of Libor plus 250 basis points with a 0% Libor floor and a 99.75 original issue discount.

There is 101 soft call protection for six months, and the loan has a 1% annual amortization rate.

The Los Angeles-based operator of hotels and properties plans to use the proceeds to refinance debt and fund cash on the balance sheet.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.