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Miller Heiman launches $136 million add-on term loan at 99 OID
By Sara Rosenberg
New York, July 9 – Miller Heiman launched on Wednesday its fungible $136 million add-on term loan with original issue discount talk of 99, according to a market source.
The add-on loan is priced at Libor plus 575 basis points with a 1% Libor floor and has amortization of 2.5% per annum, just like the existing roughly $221 million term loan.
Commitments are due on July 23, the source added.
GE Capital Markets is the lead on the deal.
Proceeds will be used to fund the acquisition VitalSmarts.
Miller Heiman is a Denver-based provider of corporate sales training.
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