Muzak launches term loan repricing

By Sara Rosenberg

New York, March 6 - Muzak LLC contacted accounts on Tuesday about repricing its term loan and extending the maturity, according to a market source.

Bear Stearns is the lead bank on the deal.

Under the proposal, pricing on the term loan would go down to Libor plus 375 basis points from Libor plus 475 bps and the maturity would be extended to Jan. 15, 2009 from April 15, 2008, the source said.

Accounts will be given 101 soft call protection for one year on the term loan, the source added.

Muzak is a Fort Mill, S.C., recorded music company.

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