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MoneyGram trims incremental term loan to $130 million, revises OID
By Sara Rosenberg
New York, March 28 - MoneyGram International Inc. reduced its add-on term loan due March 2020 to $130 million from $150 million and tightened the original issue discount to 99 7/8 from 991/2, according to sources.
Pricing on the loan is Libor plus 325 basis points with a 1% Libor floor, in line with the existing term loan.
The add-on, as well as the existing term loan, will get 101 soft call protection for six months.
Bank of America Merrill Lynch, Wells Fargo Securities LLC and J.P. Morgan Securities LLC are the lead banks on the deal.
Proceeds will be used to repurchase shares.
MoneyGram is a Dallas-based money transfer company.
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