Oberthur seeks $280 million term B repricing at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 28 - Oberthur Technologies is in market with a repricing of its $280 million term loan B to Libor plus 350 basis points with a 1% Libor floor from Libor plus 475 bps with a 1% Libor floor, according to a market source.

Also, the company is seeking to reprice its €260 million term loan B to Euribor plus 375 bps with a 1% floor from Euribor plus 500 bps with a 1% floor.

Both term loans are being offered at par and have 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC is the lead bank on the deal that launched with a call on Thursday.

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

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