Oriental Trading launches $72 million add-on to term loans

By Sara Rosenberg

New York, Feb. 7 - Oriental Trading Co. Inc. held a conference call on Monday to launch its $72 million of incremental bank debt, according to a market source. BNP Paribas is the lead bank on the deal.

The company is looking to add $30 million to its first-lien term loan and $42 million to its second-lien term loan to help fund a dividend to shareholders, the source said.

On Friday, Moody's Investors Service downgraded the second-lien debt to B3 from B2 but affirmed the first-lien debt at B1.

Standard & Poor's, on the other hand, affirmed the first-lien at B+ and affirmed the second-lien at B- but revised its outlook to negative from stable.

Oriental Trading is an Omaha, Neb., direct marketer of novelties, toys, party supplies, crafts, gift items, home décor products and garden accents.

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