Corporate Capital Trust finalizes term loan B size at $400 million

By Sara Rosenberg

New York, May 19 - Corporate Capital Trust, Inc. firmed its five-year term loan B at $400 million, versus a revised amount of a minimum of $350 million and an original amount of $500 million, according to a market source.

Pricing on the loan is Libor plus 325 basis points with a 0.75% Libor floor and it was sold at an original issue discount of 991/2.

The loan is non-callable for one year.

Earlier in syndication, pricing was lifted from talk of Libor plus 275 bps to 300 bps, the discount firmed at the wide end of the 99½ to 99¾ talk, the call protection was changed from a 101 soft call for six months and the maturity was shortened from seven years.

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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