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Mirion Technologies to launch $70 million add-on term loan on Thursday
By Sara Rosenberg
New York, Feb. 6 - Mirion Technologies will hold a call at 2 p.m. ET on Thursday to launch a $70 million first-lien add-on term loan due March 2018, according to a market source.
Credit Suisse Securities (USA) LLC is the lead bank on deal.
Price talk on the add-on is Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 99, the source said.
The spread and floor match existing term loan pricing, and the add-on will have the same 101 soft call protection through March 2013 as the existing loan.
Proceeds will be used to fund a share repurchase.
Mirion is a San Ramon, Calif.-based provider of mission-critical products to detect, monitor and identify radiation.
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