Masergy launches first-lien term loan repricing at Libor plus 375 bps

By Sara Rosenberg

New York, June 2 – Masergy Communications Inc. held a lender call on Friday morning to launch a repricing of its $346 million first-lien term loan that is talked at Libor plus 375 basis points with a 1% Libor floor and a par issue price, according to a market source.

The repriced loan includes 101 soft call protection for six months, the source said.

Jefferies LLC is the lead on the deal.

The repricing will take the term loan down from Libor plus 450 bps with a 1% Libor floor.

Commitments are due on Thursday, the source added.

Masergy is a Plano, Texas-based provider of hybrid networking, managed security and cloud communications solutions.

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