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Office Depot talks $750 million term loan B at Libor plus 500-525 bps
By Sara Rosenberg
New York, Oct. 18 – Office Depot Inc. launched on Wednesday its $750 million six-year senior secured term loan B (B1) with price talk of Libor plus 500 basis points to 525 bps with a 1% Libor floor and an original issue discount of 98.5, according to a market source.
The term loan has 101 soft call protection for six months and amortization of 5% per annum, the source said.
Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Wells Fargo Securities LLC are the leads on the deal.
Commitments are due on Oct. 31, the source added.
Proceeds will be used to fund the acquisition of CompuCom.
Office Depot is a Boca Raton, Fla.-based provider of office supplies and business products and services.
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