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Franklin Square wraps $520 million term loan B at Libor plus 225 bps
By Sara Rosenberg
New York, Dec. 16 – Franklin Square Holdings completed syndication of its $520 million term loan B at pricing of Libor plus 225 basis points with a 0% Libor floor and an original issue discount of 99.75, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan B down from Libor plus 250 bps.
Franklin Square is a Philadelphia-based investment company.
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