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American Beacon firms $170 million term loan at Libor plus 375 bps
By Sara Rosenberg
New York, Nov. 19 - American Beacon Advisors Inc. finalized pricing on its $170 million six-year term loan (Ba2/BB-) at Libor plus 375 basis points, the low end of the Libor plus 375 bps to 400 bps talk, according to a market source.
As before, the term loan has a 1% Libor floor, an original issue discount of 99 and soft call protection of 101.
J.P. Morgan Securities LLC is the lead bank on the deal.
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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