Corporate Capital talks $500 million term B at Libor plus 275-300 bps

By Sara Rosenberg

New York, April 23 - Corporate Capital Trust launched on Wednesday a $500 million seven-year term loan B (BBB-) that is talked at Libor plus 275 basis points to 300 bps with a 0.75% Libor floor and an original issue discount of 99½ to 993/4, according to sources.

The term loan has 101 soft call protection for six months, sources said.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to pay down some bank debt and for general corporate purposes.

Corporate Capital Trust is an Orlando-based business development company that invests in privately owned American companies.

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