Warnaco firms spread on $200 million term loan at Libor plus 275 bps

By Sara Rosenberg

New York, June 15 - Warnaco Group Inc. set pricing on its $200 million seven-year covenant-light term loan B (Ba1/BBB-) at Libor plus 275 basis points, the low end of the Libor plus 275 bps to 300 bps talk, according to a market source.

The 1% Libor floor, original issue discount of 99½ and 101 soft call protection for one year were left unchanged.

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

Proceeds will be used to refinance existing debt and for general corporate purposes.

Warnaco is a New York-based designer, marketer and distributor of intimate apparel, sportswear and swimwear.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.