Oberthur Technologies widens discount on $250 million term B to 95

By Sara Rosenberg

New York, March 22 - Oberthur Technologies revised the original issue discount on its $250 million term loan B to 95 from earlier guidance of 97 to 971/2, according to a market source.

Pricing on the loan was left unchanged at Libor plus 500 basis points with a 1.25% Libor floor, the source said.

The U.S. term loan B due November 2018 is being carved out of a €410 million term loan B.

The euro portion of the term loan B priced in line with talk at Euribor plus 500 bps with no floor and an original issue discount of 95, the source added.

Allocations are expected to go out next week.

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 a France-based provider of security and identification services based on smart-card technologies.

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