Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aristotle Corp. > News item |
Aristotle cuts spread on $130 million term loan to Libor plus 450 bps
By Sara Rosenberg
New York, June 30 – The Aristotle Corp. lowered pricing on its $130 million six-year term loan to Libor plus 450 basis points from Libor plus 475 bps, according to a market source.
Also, a step-down was added to the term loan to Libor plus 425 bps based on leverage and the original issue discount was tightened to 99.5 from 99, the source said.
The term loan still has a 1% Libor floor and 101 soft call protection for six months.
The company’s $160 million credit facility also includes a $30 million five-year revolver.
BNP Paribas Securities Corp. and GE Capital Markets are the leads on the deal.
Proceeds will be used to help fund the buyout of the company by Wasserstein & Co.
Aristotle is a Stamford, Conn.-based manufacturer and marketer of educational, health care, medical technology and agricultural products.
© 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.