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CommScope launches $1.1 billion term loan B at Libor plus 200-225 bps
By Sara Rosenberg
New York, May 17 – CommScope Inc. launched on Wednesday its $1,096,000,000 term loan B with price talk of Libor plus 200 basis points to 225 bps with no Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the lead banks on the deal.
Proceeds will be used to reprice an existing term loan B from Libor plus 250 bps with a 0.75% Libor floor.
Commitments are due on May 23, the source added.
CommScope is a Hickory, N.C.-based provider of infrastructure services for communication networks.
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