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Oriental Trading to launch term loan B repricing Thursday
By Sara Rosenberg
New York, Feb. 13 - Oriental Trading Co. is scheduled to hold a conference call on Thursday at 11 a.m. ET to launch a repricing of its term loan B, according to a market source.
JPMorgan is the lead bank on the deal.
Under the repricing, the company is looking to take the term loan B spread down to Libor plus 225 basis points from Libor plus 275 bps, while giving investors 101 soft call protection for one year, the source said.
In addition, the pricing grid on the term loan B will be eliminated.
Oriental Trading is an Omaha, Neb., direct marketer of party and school supplies.
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