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Micron launches $744 million term loan B at Libor plus 250-275 bps
By Sara Rosenberg
New York, March 28 – Micron Technology Inc. held a lender call on Tuesday to launch a $744 million term loan B due April 26, 2022 that is talked at Libor plus 250 basis points to 275 bps with a 0% Libor floor and an original issue discount of 99.75, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to reprice an existing term loan from Libor plus 375 bps with a 0% Libor floor.
Micron is a Boise, Idaho-based semiconductor company.
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