CityCenter launches $1.24 billion term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Jan. 10 – CityCenter Holdings LLC launched on its lender call on Tuesday a repricing of its $1,242,000,000 covenant-light term loan B with talk of Libor plus 275 basis points with a 0.75% Libor floor and a par issue price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

Bank of America Merrill Lynch is the left lead on the deal.

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

The repricing will take the term loan down from Libor plus 325 bps with a 1% Libor floor.

CityCenter is the owner and operator of a mixed-use development located on the Las Vegas Strip.

© 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.