United Talent firms $300 million term loan B at Libor plus 400 bps

By Sara Rosenberg

New York, June 30 – United Talent Agency set pricing on its $300 million term loan B (B2/B+) at Libor plus 400 basis points, the high end of the Libor plus 375 bps to 400 bps talk, according to a market source.

The company also revised original issue discount talk on the term loan to a range of 99 to 99.5 from just 99, the source said.

The 0.75% Libor floor and 101 soft call protection for six months on the term loan were unchanged.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at 10 a.m. ET on Thursday, the source added.

Proceeds will be used to refinance existing debt, fund a distribution and add cash to the balance sheet.

United Talent is a Los Angeles-based talent and entertainment company.

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