Oriental Trading sets launch of $200 million term loan for Thursday

By Sara Rosenberg

New York, Jan. 10 - Oriental Trading Co. is scheduled to hold a bank meeting on Thursday to launch its proposed $200 million six-year first-lien term loan, according to a market source.

Credit Suisse and JPMorgan are the lead banks on the loan.

Price talk on the term loan is Libor plus 650 basis points with a 1.75% Libor floor and an original issue discount of 98, the source said.

The company is also getting a $50 million ABL revolver that is being led by GE Capital.

Proceeds will be used to help fund the company's exit from bankruptcy protection.

At close, total leverage will be 3.6 times.

Oriental Trading is an Omaha-based direct marketer of party and school supplies.

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