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Sensis revises original issue discount on $315 million term loan to 99
By Sara Rosenberg
New York, Feb. 24 - Sensis tightened the original issue discount on its $315 million five-year term loan to 99 from 98, according to a market source.
Pricing on the loan is still Libor plus 700 basis points with a 1% Libor floor.
The term loan has 101 soft call protection for one year.
Bank of America Merrill Lynch, Macquarie Capital and Credit Suisse Securities (USA) LLC are the lead banks on the deal.
Proceeds will be used to help fund the purchase of a 70% stake in the company by Platinum Equity from Telstra Corp. Ltd. for $454 million.
Sensis is a provider of local search and digital marketing solutions to Australian businesses.
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