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Red Ventures launches $2.28 billion term B at Libor plus 250-275 bps
By Sara Rosenberg
New York, Jan. 14 – Red Ventures LLC held a lender call on Tuesday to launch a $2,284,000,000 term loan B that is talked at Libor plus 250 basis points to 275 bps with a 0% Libor floor and an original issue discount of 99.875 to par, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
BofA Securities Inc. is the lead bank on the deal.
Commitments are due at noon ET on Jan. 22, the source added.
Proceeds will be used to reprice an existing term loan down from Libor plus 300 bps.
Red Ventures is a Fort Mill, S.C.-based technology-enabled customer acquisition platform.
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