Ceridian launches $1.42 billion term B repricing at Libor plus 425 bps

By Sara Rosenberg

New York, Aug. 7 - Ceridian Corp. held a call at 3:30 p.m. ET on Wednesday to launch a repricing of its $1,419,000,000 term loan B that is talked at Libor plus 425 basis points with no Libor floor and an original issue discount of 993/4, according to a market source.

The repricing will take the term loan down from Libor plus 575 bps with no Libor floor.

Included in the repriced loan is 101 soft call protection for six months, the source said.

Commitments are due at 3 p.m. ET on Tuesday.

Deutsche Bank Securities Inc. is the lead bank on the deal.

Ceridian is a Minneapolis-based provider of human resources, transportation and retail information management services.

© 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.