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Ceridian moves offer price on $1.4 billion term loan B to par
By Sara Rosenberg
New York, Aug. 13 - Ceridian Corp. revised the offer price on its $1,419,000,000 term loan B to par from 993/4, according to a market source.
Pricing on the loan is Libor plus 425 basis points with a step-down and no Libor floor, and there is 101 soft call protection for six months, the source said.
Proceeds will be used to reprice an existing term loan from Libor plus 575 bps with no Libor floor.
Allocations are expected later this week, the source added.
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.
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