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Aspect Software lowers discount on $500 million term loan B to 99
By Sara Rosenberg
New York, May 4 - Aspect Software Inc. tightened the original issue discount on its $500 million six-year term loan B to 99 from 981/2, according to a market source.
In addition, while pricing remained at Libor plus 450 basis points, a step-down to Libor plus 425 bps was added when leverage is less than 3.5 times, the source said.
The 1.75% Libor floor was left unchanged.
The $530 million credit facility (Ba3/B+) also includes a $30 million four-year revolver.
JPMorgan is the lead bank on the deal.
Proceeds will be used to refinance existing debt.
Aspect Software is a Chelmsford, Mass.-based software and IT services firm.
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