Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Oceania Cruises Inc. > News item |
Oceania Cruises lifts $300 million term B spread to Libor plus 575 bps
By Sara Rosenberg
New York, June 27 - Oceania Cruises raised pricing on its $300 million seven-year term loan B to Libor plus 575 basis points from talk of Libor plus 400 bps to 425 bps, according to a market source.
In addition, the original issue discount on the term B was revised to 99 from 991/2, the source said.
The loan still has a 1% Libor floor and there is 101 soft call protection for one year.
The company's $375 million credit facility (B2/B) 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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.