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Ortho-Clinical revises euro term B talk to Euribor plus 375-400 bps
By Sara Rosenberg
New York, Jan. 16 – Ortho-Clinical Diagnostics changed price talk on its $375 million euro-equivalent senior secured term loan B to a range of Euribor plus 375 basis points to 400 bps from just Euribor plus 400 bps, according to a market source.
In addition, the original issue discount on the term loan was set at 99.5, the tight end of the 99 to 99.5 talk, the source said.
The term loan B still has a 0% floor.
Barclays is the left lead arranger on the deal and the administrative agent.
Commitments are due at 11 a.m. ET on Friday, the source added.
Proceeds will be used to refinance existing debt.
Ortho-Clinical Diagnostics is a Raritan, N.J.-based provider of in-vitro diagnostics solutions for screening, diagnosing and monitoring diseases.
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