Mood Media cuts spread on $235 million term loan to Libor plus 600 bps

By Sara Rosenberg

New York, April 23 - Mood Media Corp. lowered pricing on its $235 million five-year first-lien term loan to Libor plus 600 basis points from Libor plus 625 bps, according to a market source.

The term loan still has a 1% Libor floor, an original issue discount of 99, 101 soft call protection for one year and maximum leverage and minimum interest coverage covenants.

The company's $250 million credit facility (Ba3/B+) also includes a $15 million revolver.

Recommitments were due at 5 p.m. ET on Wednesday, the source said.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to refinance an existing revolver and term loan.

Mood Media is a provider of in-store audio, visual and mobile solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.