Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Franklin Square Holdings, LP > News item |
Franklin Square launches $700 million term B at SOFR plus 225-250 bps
By Sara Rosenberg
New York, April 15 – Franklin Square Holdings held a lender call at 1 p.m. ET on Monday to launch a $700 million seven-year term loan B (BB) that is talked at SOFR plus 225 basis points to 250 bps with a 0% floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
JPMorgan Chase Bank is the lead on the deal.
Commitments are due at 5 p.m. ET on Thursday, the source added.
Proceeds will be used to refinance an existing $498 million term loan B due 2025 and a $149 million term loan A, and for general corporate purposes, including share repurchases.
Franklin Square is a Philadelphia-based financial and investment services company.
© 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.