MediMedia lifts first-lien term loan to $215 million, firms spread

By Sara Rosenberg

New York, May 10 - MediMedia USA Inc. upsized its first-lien term loan (B2) to $215 million from $210 million and firmed pricing at Libor plus 675 basis points, the wide end of the Libor plus 650 bps to 675 bps talk, according to a market source.

In addition, the original issue discount on the first-lien term loan was revised to 97 from 98 and the call protection was sweetened to 102 in year one and 101 in year two from 101 soft call protection for one year, the source said.

The first-lien term loan still has a 1.25% Libor floor.

Also, pricing on the $100 million second-lien term loan (Caa2) firmed at Libor plus 1,100, the high side of the Libor plus 1,050 bps to 1,100 bps talk.

As before, the second-lien term loan has a 1.25% floor and original issue discount of 97 and call protection of 103 in year one, 102 in year two and 101 in year three.

The company's now $340 million credit facility, up from $335 million, also provides for a $25 million revolver (B2).

Goldman Sachs & Co., Jefferies Finance LLC and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will be used to refinance existing debt.

MediMedia is a Yardley, Pa.-based specialty health care communications, publishing and medical education company.

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