Alcatel-Lucent sets talk on U.S. and euro term loan repricing

By Sara Rosenberg

New York, Aug. 2 - Alcatel-Lucent USA Inc. launched on Friday its $1,741,250,000 term loan C with price talk of Libor plus 500 basis points with a 1% Libor floor and a par offer price, according to a market source.

Also, the €298.5 million term loan D was launched with talk of Euribor plus 525 bps with a 1% floor and a par offer price, the source said.

Both term loans have 101 soft call protection for six months.

Commitments are due on Thursday.

Proceeds will be used to reprice the existing term loan C from Libor plus 625 bps with a 1% Libor floor and the existing term loan D from Euribor plus 650 bps with a 1% Euribor floor.

Morgan Stanley Senior Funding Inc., Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are the lead banks on the deal.

Alcatel is a Paris-based telecommunications services and equipment company.

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