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Presidio launches $300 million term loan B at Libor plus 475 bps
By Sara Rosenberg
New York, Nov. 10 - Presidio Inc. launched a $300 million term loan B (B+) on Wednesday with price talk of Libor plus 475 basis points with a 1.75% Libor floor and an original issue discount of 981/2, according to a market source.
There is 101 soft call protection for one year.
JPMorgan is the lead bank on the deal.
Proceeds will be used to refinance debt, pay a dividend to shareholders and for general corporate purposes.
Presidio is a Greenbelt, Md.-based provider of professional and managed IT services.
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