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United Talent launches $250 million term loan at SOFR plus 400 bps
By Sara Rosenberg
New York, Feb. 2 – United Talent Agency was scheduled to hold a lender call at 11 a.m. ET on Thursday to launch a non-fungible $250 million incremental term loan B due July 2028 (B2/B+) that is talked at SOFR+CSA plus 400 basis points with a 0.75% floor and an original issue discount of 97.5 to 98, according to a market source.
CSA is roughly 11 bps one-month rate, 26 bps three-month rate and 43 bps six-month rate.
The incremental term loan has 101 soft call protection for six months, the source said.
JPMorgan Chase Bank, BofA Securities Inc. and MUFG are the joint lead arrangers on the deal.
Commitments are due at 5 p.m. ET on Feb. 9, the source added.
Proceeds will be used to pay down revolving credit facility borrowings and add cash to the balance sheet for general corporate purposes and potential mergers and acquisitions.
United Talent is a Los Angeles-based talent and entertainment company.
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