Orleans Homebuilders to launch $125 million exit term loan on Monday

By Sara Rosenberg

New York, Nov. 24 - Orleans Homebuilders Inc. is scheduled to hold a lender call on Monday to launch its proposed $125 million term loan, according to a market source.

JPMorgan is the lead bank on the deal.

Price talk on the term loan is Libor plus 650 basis points with a 2% Libor floor and an original issue discount of 98, the source said.

Proceeds will be used to help fund the company's emergence from Chapter 11.

Orleans Homebuilders is a Bensalem, Pa.-based developer, builder and marketer of single-family homes, townhouses and condominiums.

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