Getty Images launches $1.27 billion term B at Libor plus 425 bps

By Sara Rosenberg

New York, Oct. 20 - Getty Images Inc. launched its $1.27 billion six-year term loan B on Wednesday with price talk of Libor plus 425 basis points, a 1.5% Libor floor and an original issue discount of 99, according to a market source.

The $1.37 billion credit facility also includes a $100 million revolver.

Barclays, JPMorgan, GE Capital, Bank of America and Goldman Sachs are the lead banks on the deal.

Proceeds will be used to refinance existing debt and fund a dividend payment.

Commitments towards the term loan B are due on Oct. 29.

Getty Images is a Seattle-based creator, aggregator and distributor of visual and multimedia content to creative and communication professionals.

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