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LegalZoom ups spread on $535 million term loan to Libor plus 450 bps
By Sara Rosenberg
New York, Nov. 20 – LegalZoom.com Inc. raised pricing on its $535 million first-lien term loan to Libor plus 450 basis points from talk in the range of Libor plus 375 bps to 400 bps, according to a market source.
Additionally, the original issue discount on the term loan was revised to 99 from 99.5, the source said.
The term loan still has a 0% Libor floor.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to refinance existing term loans and to fund a dividend.
LegalZoom is a Glendale, Calif.-based provider of online legal products and services.
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