Quad/Graphics launches $300 million term B at Libor plus 275-300 bps

By Sara Rosenberg

New York, April 7 - Quad/Graphics Inc. launched on Monday its $300 million seven-year term loan B with price talk of Libor plus 275 basis points to 300 bps with a 0.75% Libor floor and an original issue discount of 99½ to 993/4, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

The company's $1.6 billion credit facility (Ba2/BB-) also includes an $850 million five-year revolver and a $450 million five-year term loan A.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Quad/Graphics is a Sussex, Wis.-based printer and media channel integrator.

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