Oberthur Technologies talks U.S. term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, Sept. 25 - Oberthur Technologies is talking its €275 million six-year U.S. equivalent term loan B (roughly $372 million) at Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term B has 101 soft call protection for one year, the source said.

In addition, the company is getting a €165 million six-year euro term loan B.

A bank meeting for the transaction took place in London on Wednesday and one will take place in New York on Thursday.

J.P. Morgan Securities LLC, Goldman Sachs, Lloyds, Barclays, HSBC Securities and Societe Generale are the lead banks on the €440 million deal.

Proceeds will be used to refinance existing debt.

Oberthur is a France-based manufacturer of chip-based digital authentication products for the payment and telecom industries.

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