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Ortho-Clinical Diagnostics prices €337 million term B loan at par at Euribor plus 350 bps
By Paul A. Harris
Portland, Ore., Jan. 17 – Ortho-Clinical Diagnostics priced its €337 million senior secured term loan B with a 350 basis points spread to Euribor at par, according to a market source.
The deal allocated on Friday.
The spread comes inside of the 375 bps to 400 bps talk.
Discount talk was 99.5, widened from earlier talk of 99 to 99.5.
The term loan B still has a 0% floor.
Barclays was the left lead arranger on the deal and the administrative agent.
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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