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American Beacon talks $170 million term loan at Libor plus 375-400 bps
By Sara Rosenberg
New York, Nov. 5 - American Beacon Advisors Inc. is talking its $170 million six-year term loan (Ba2/BB-) at Libor plus 375 basis points to 400 bps with a 1% Libor floor, an original issue discount of 99 and 101 soft call protection, according to a market source.
J.P. Morgan Securities LLC is the lead bank on the deal that launched on Monday.
Proceeds will be used to refinance existing debt.
American Beacon Advisors is a Fort Worth, Texas-based provider of investment advisory services to institutional and retail markets.
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