Sedgwick seeks $640 million term loan repricing at Libor plus 300 bps

By Sara Rosenberg

New York, Feb. 5 - Sedgwick Claims Management Services Inc. is looking to reprice its roughly $640 million term loan B to Libor plus 300 basis points with a 1% to 1.25% Libor floor from Libor plus 350 bps with a 1.5% Libor floor, according to a market source.

The repriced loan is being offered at par and has 101 soft call protection for six months, the source said.

Commitments are due on Friday.

Bank of America Merrill Lynch and Barclays are the lead banks on the deal that launched with a call late Monday.

Sedgwick is a Memphis, Tenn.-based provider of claims and productivity management services to corporate and institutional clients.

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