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Mirion Technologies to launch $225 million credit facility Thursday
By Sara Rosenberg
New York, March 7 - Mirion Technologies is set to hold a bank meeting on Thursday to launch a proposed $225 million credit facility, according to a market source.
Credit Suisse Securities (USA) LLC is the lead bank on the deal.
The facility consists of a $25 million five-year revolver and a $200 million six-year term loan B, the source said.
Price talk on the deal is Libor plus 500 basis points with a 1.25% Libor floor, the source continued.
The term loan B is being offered at an original issue discount of 98 and includes 101 soft call protection for one year.
Proceeds will be used to refinance existing debt.
Mirion is a San Ramon, Calif.-based provider of mission-critical products to detect, monitor and identify radiation.
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