MoneyGram launches $400 million term loan B at Libor plus 450-475 bps

By Sara Rosenberg

New York, July 7 – MoneyGram International Inc. held a lender call at 1 p.m. ET on Wednesday to launch a $400 million five-year term loan B (B2/B) that is talked at Libor plus 450 basis points to 475 bps with a 0.5% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BofA Securities Inc., Wells Fargo Securities LLC and United Texas Bank are the leads on the deal.

Commitments are due at noon ET on July 14, the source added.

Proceeds will be used to repay first- and second-lien term loans.

MoneyGram is a Dallas-based money transfer company.

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