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Oceania Cruises launches $300 million term B at Libor plus 400-425 bps
By Sara Rosenberg
New York, June 13 - Oceania Cruises launched on Thursday its $300 million seven-year term loan B with price talk of Libor plus 400 basis points to 425 bps with a 1% Libor floor and an original issue discount of 991/2, according to a market source.
The company's $375 million credit facility (B2) also includes a $75 million revolver.
Deutsche Bank Securities Inc., Barclays, UBS Securities LLC and HSBC Securities (USA) Inc. are the lead banks on the deal.
Proceeds will be used to refinance existing bank debt.
Oceania Cruises is a Miami-based upper premium cruise line.
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