Digital Cinema launches $680 million term loan at Libor plus 275 bps

By Sara Rosenberg

New York, April 30 - Digital Cinema Implementation Partners LLC launched on Tuesday its $680 million term loan with price talk of Libor plus 275 basis points with a 0.75% Libor floor and an original issue discount of 991/2, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Also included in the company's $755 million credit facility is a $75 million revolver.

Barclays and Credit Suisse Securities (USA) LLC are the lead banks on the deal.

Proceeds will be used to refinance existing bank debt.

Commitments are due on May 10, the source added.

Digital Cinema is a Mahwah, N.J.-based digital cinema integrator.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.