Sound United ups spread on $380 million term B to Libor plus 550 bps

By Sara Rosenberg

New York, April 23 – Sound United increased pricing on its $380 million seven-year first-lien term loan B (B2/B) to Libor plus 550 basis points from talk in the range of Libor plus 475 bps to 500 bps, according to a market source.

Also, the original issue discount on the term loan widened to 98.5 from 99, the source said.

The term loan still has a 0.75% Libor floor.

BofA Securities Inc. and KKR Capital Markets are the leads on the deal.

Proceeds will be used to refinance existing debt.

Sound United is a Vista, Calif.-based manufacturer and retailer of audio equipment.

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