Micron readies launch of $740.6 million term loan B for Wednesday

By Sara Rosenberg

New York, Oct. 17 – Micron Technology Inc. is set to hold a lenders’ call at 11 a.m. ET on Wednesday to launch a $740,625,000 senior secured term loan B, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan B due 2022 from Libor plus 250 basis points with a 0% Libor floor.

Micron is a Boise, Idaho-based semiconductor company.

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