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Oberthur Technologies talks $250 million term B at Libor plus 500 bps
By Sara Rosenberg
New York, March 6 - Oberthur Technologies launched its $250 million term loan B on Tuesday with talk of Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 97 to 971/2, according to a market source.
The U.S. term loan B due November 2018 is being carved out of a €410 million term loan B.
Commitments are due on March 19.
RBC Capital Markets LLC, Barclays Capital Inc. and Lloyds Securities LLC are the lead banks on the deal.
Proceeds will be used to refinance some debt that was used for the company's buyout by Advent International, which was completed late last year.
Oberthur Technologies is France-based provider of security and identification services based on smart-card technologies.
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