ClubCorp talks $305 million term B repricing at Libor plus 375-400 bps

By Sara Rosenberg

New York, Nov. 5 - ClubCorp launched with a call on Monday afternoon a repricing of its roughly $305 million term loan B at talk of Libor plus 375 basis points to 400 bps with a 1.25% Libor floor and a par offer price, according to a market source.

The repriced loan will have 101 soft call protection for one year, the source said.

By comparison, current pricing on the term loan B is Libor plus 450 bps with a 1.5% Libor floor.

Existing lenders will get paid down at par with the repricing.

Citigroup Global Markets Inc. is the lead bank on the deal.

ClubCorp is a Dallas-based owner and operator of golf courses, country clubs, private business and sports clubs, and resorts.

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