MoneyGram firms $400 million term loan B at Libor plus 450 bps

By Sara Rosenberg

New York, July 14 – MoneyGram International Inc. set pricing on its $400 million five-year term loan B (B2/B) at Libor plus 450 basis points, the low end of the Libor plus 450 bps to 475 bps talk, according to a market source.

Also, the original issue discount on the term loan firmed at 99.5, the tight end of the 99 to 99.5 talk, the source said.

The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.

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

Proceeds will be used with $415 million of senior secured notes to refinance existing first-and second-lien term loans.

MoneyGram is a Dallas-based money transfer company.

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